Wednesday, July 20, 2011

Multi-retail FDI making headway, but with riders

Secys’ panel meets this week, amid differences; BJP seniors may be invited. The committee of secretaries (CoS) looking into the issue of allowing foreign direct investment (FDI) in the multi-brand retail segment is likely to meet this Friday to try for more agreement on the issue. The government seems to be contemplating 51 per cent FDI in the segment but is planning to introduce several riders with it. The panel, headed by cabinet secretary Ajit Kumar Seth, would also look at finalising these.


At present, India allows 100 per cent FDI in cash and carry wholesale trade, that is business-to-business, and 51 per cent in single-brand retail. However, FDI in multibrand retailing is not allowed. Inter-ministerial discussions are also underway. Though the government has already held a series of meetings within various quarters of the ministries, the one underway now is more broad-based, having larger participation and examining all the riders and their effects, a senior official from the department of industrial policy and promotion (Dipp) told Business Standard.

Source : Business Standard

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