July 12, 2011 / 11:52 IST
The Committee of Secretaries may have postponed its meeting on multi-brand retail FDI today, however, sources have told CNBC-TV18 that a discussion between different government departments have yielded positive results.
Sources say it is only a question of time when the quantum of FDI cap on the sector will be finalised. Many government departments have given their views on the FDI cap in the sector.
Sources say the Planning Committee has given its support to 51% FDI in multi-brand retail. However, the Department of Consumer Affairs of wants only 49% FDI.
The DIPP had proposed 51% FDI in multi-brand retail. According to sources Planning Committee has agreed with DIPP on most of the key points of proposal.
The Department of Consumer Affairs, meanwhile, wants 75% FDI in back-end operations, sources add.
The Finance Ministry will share its views on the multi-brand FDI at the Committee of Secretaries meeting.
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