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Indian Govt. not to review FDI in multi-brand retail

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The Indian Government has made it clear that it is not going to review the Foreign Direct Investment (FDI) policy, which allows overseas players to hold 51 per cent stake in an Indian retail company, in the multi-brand retail sector.

“No proposal is under consideration of the Government to review the extant FDI policy on multi-brand retail,” informed Commerce and Industry Minister Nirmala Sitharaman in a written reply to Lok Sabha, the lower house of the Indian Parliament.

Also ReadIndian Govt. mulls 100% FDI in single brand retail via auto route

Till date British multinational retailer Tesco is the only overseas players who has got approval for opening stores under the multi-brand retail policy.

 

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