Govt. fastens FDI in multi-brand retail decision process

14 November 2011: In an attempt to dispel the impression of ‘policy paralysis', the Government is fast-tracking the process for a decision on foreign direct investment (FDI) in multi-brand retailing. It has also indicated that a proposal for increasing FDI in single brand retail might be considered simultaneously by the Cabinet.

The proposal for allowing FDI in multi-brand retail has been sent for inter-ministerial consultations. The Department of Industrial Policy and Promotion (DIPP) is steering the proposal. There has been lot of discussion on increasing the FDI limit to 100 per cent in single brand retail. Allowing FDI in multi brand retail will require the free movement of agricultural produce. In this regard, the Committee had advised the Department of Agriculture and Cooperation to urge the States to expedite reforms in the Agriculture Produce Marketing (APMC) Act.

Source: Hindu Business Line