India is considering opening fully its single-brand retail sector to foreign direct investors, raising the investment allowed to 100% from 51%, the industry secretary said on Monday.
"It is under consideration," RP Singh told Reuters by phone, declining to provide any time frame. India currently allows 51% foreign direct investment (FDI) in single-brand retailers and 100% in wholesale operations. The government has considered allowing foreign firms to invest in supermarkets, but lack of political consensus and concerns of small-shop owners have so far prevented the move.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
