Retail sector left disappointed again by FM

India's retail sector that has been anticipating some good news on allowing FDI in the multi -brand segment is left disappointed by Finance Minister Pranab Mukherjee, who made no mention of it in his Budget speech.

February 28, 2011 / 20:16 IST

India's retail sector that has been anticipating some good news on allowing FDI in the multi -brand segment is left disappointed by Finance Minister Pranab Mukherjee, who made no mention of it in his Budget speech.

"The budget looks like a 'khatta' budget. Although it has a lot of announcements on GST, DTC, UID, it has very little to show for the retail.

"As expected, retail FDI was given a miss, although the trailer (Economic Survey), highlighted the positive impact of FDI in retail," Shoppers Stop Ltd Customer Care Associate and Managing Director Govind Shrikhande said.

The Economic Survey released last week had favoured a phased opening of foreign direct investments in multi-brand retail saying it could help address concerns of consumers and farmers, besides bringing in technical know-how.

first published: Feb 28, 2011 07:24 pm

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