"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 here.
The secretary also said that to increase availability of funds for startups, the department has asked Small Industries Development Bank of India (SIDBI) to commit Rs 3,300 crore by March next year.
In an interview with CNBC-TV18's Shereen Bhan, Navin Chawla Former CEC, Soli Sorabjee Former Attorney General. Ashok Jha Former Finance Secretary and Ajay Dua Former DIPP Secy discuss what can the government do and what it cannot.
The government today clarified that the multi-brand retail store set up by a global retail entity will have to be 'company owned and company operated' and not operated by any franchisee.