‘No move to change existing FDI policy in retail trade’

Source: The Hitavada      Date: 14 Dec 2018 10:16:18


 

THE Government has no proposal to change the existing foreign direct investment (FDI) policy in the multi-brand retail trading sector, a top official said on Thursday. 

“You know the multi-brand retail policy that exists today. There is no proposal for change,” Secretary in the Department of Industrial Policy and Promotion (DIPP) Ramesh Abhishek said. He was replying to a question whether Government is looking at increasing FDI cap to 100 per cent in sector.
Although the current FDI policy permits overseas players to hold 51 per cent stake in an Indian multi-brand retail company,