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%.
“We have no intent to review FDI in retail sector except what is permitted in single brand retail,” Anand Sharma told the lawmakers in the Rajya Sabha.
