Only 4 states want FDI in multi-brand retail
9 Aug 2012 7:13 AM IST
Only four states and union territories have so far indicated their support for allowing foreign direct investment (FDI) in multi-brand retail, a development which will further delay entry of global chains like Walmart and Carrefour in India.
‘Till date, written communications, indicating support for foreign direct investment (FDI) in multi-brand retail trade, have been received from the governments of Delhi, Manipur and from Daman & Diu and Dadra Nagar Haveli,’ minister of state for commerce and industry Jyotiraditya Scindia informed the Rajya Sabha on Wednesdayin a written reply.
The Department of Industrial Policy and Promotion (DIPP) had written to governments of all states and union territories on 19 June to elicit their views on the contentious issue.
The cabinet had decided on 24 November 2011 to allow 51 per cent FDI in multi-brand retail, but the same could not be implemented in the face of strong opposition from UPA-ally Trinamool Congress and several state governments.
‘Till date, written communications, indicating support for foreign direct investment (FDI) in multi-brand retail trade, have been received from the governments of Delhi, Manipur and from Daman & Diu and Dadra Nagar Haveli,’ minister of state for commerce and industry Jyotiraditya Scindia informed the Rajya Sabha on Wednesdayin a written reply.
The Department of Industrial Policy and Promotion (DIPP) had written to governments of all states and union territories on 19 June to elicit their views on the contentious issue.
The cabinet had decided on 24 November 2011 to allow 51 per cent FDI in multi-brand retail, but the same could not be implemented in the face of strong opposition from UPA-ally Trinamool Congress and several state governments.
Next Story
