India has not taken a final view on allowing foreign direct investment (FDI) in multi-brand retail, Trade Minister Anand Sharma said on Friday, an indication that the government is still some distance away from this politically sensitive reform initiative.
Earlier, newspapers had reported that India would move to open up the multi-brand retail sector and allow foreign direct investment of up to 51%, with at least half the funds invested in infrastructure such as cold storage. Global retailers such as Wal-Mart Stores, Carrefour, Tesco and Metro AG are eyeing the lucrative Indian retail sector that is dominated by mom-and-pop operators.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!
