fdi in retail sector

Farmers have reiterated their support for Cabinet’s decision to allow FDI in Multi-Brand Retail. In a meeting with the Minister of Commerce, Industry and Textiles Shri Anand Sharma here today, Secretary General of Consortium of Indian Farmers Associations (CIFA), Shri P. Chengal Reddy conveyed the desire of various farmers’ body to implement the decision as soon as possible. “FDI in retail will free farmers from the middleman and will get the remunerative price for.. Full Article

Planning Commission Deputy Chairman Montek Singh Ahluwalia has said the government has consulted all stakeholders, including UPA allies, before opening the multi-brand retail to foreign investment. Participating in a TV programme he said the decision provides States the power to decide on opening up of such stores. Full Article

The decision of the Union Cabinet to permit FDI into multi-brand retail in the country will create 10 million new jobs including 6 million in the logistics sector alone, said Shri Anand Sharma, Union Minister for Commerce and Industry. Addressing a media conference at Chennai this afternoon he said the policy has to be viewed in the Indian context. Responding to apprehensions about the consequences of the policy, he asserted that the Indian model is quite distinct and di.. Full Article

The government has no plan to further liberalize foreign investment in retail sector, the commerce and industry minister said.India, currently, does not permit foreign direct investment (FDI) in multiple-brand retailers, restricting global firms like Wal-Mart Stores and Carrefour from selling directly to customers in the country. Foreign holdings in single-branded retailers are capped at 51%. Full Article