More reports on: Government policies
Centre closer to decision on FDI in multi-brand retail: Anand Shrama news
16 August 2012

The center today claimed that the governments of Delhi and Uttarakhand have extended support to allowing foreign players open multi-brand retail stores across the country, saying it would help reduce inflation while at the same time ensuring remunerative prices to farmers.

Minister of commerce, industry and textiles Anand Sharma said the government has ''taken stock of every issue related to FDI. These are policy pronouncements and I am sure that there are concerns that some decisions got delayed... the government will take the appropriate and correct view which is in the interest of India's economic growth and development. Hopefully soon.''

He further said: ''we are very clear that the government in consultation with stakeholders has taken some steps, some decisions and policies which are under implementation. There are other decisions which are required and we as a government while affirming our firm commitment to the reform agenda are clear that whatever steps have to be taken shall be taken whatever is within reach will be done...and announcements required will made.''

The cabinet had, on 24 November 2011, approved 51 per cent FDI in multi-brand retail, but could not implement it on the face of strong opposition from UPA-ally Trinamool Congress and state governments.

Sharma, who is making fresh efforts for a political consensus on this issue, said Delhi and Uttarkhand, both Congress-ruled states, have written to him.

In her letter, Delhi chief minister Sheila Dikshit has said FDI in the sector would be of immense benefit to the citizens of the state and farmers located in various parts of the country.

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Centre closer to decision on FDI in multi-brand retail: Anand Shrama