FDI in retail only after detailed study: Govt
New Delhi (PTI): Foreign Direct Investment (FDI) in retail sector for multi-brand products will be examined only after government receives reports from two analyst agencies, Rajya Sabha was informed on Wednesday.
The two agencies are the Indian Council for Research on International Relations (ICRIER) and the National Council for Applied Economic Research (NCAER), Minister of State for Industry Ashwani Kumar told the House.
"As of now, FDI in retail is allowed only for single brand and there is no embargo to allow domestic players in retail," he said.
"NCAER will specifically study the impact of FDI on Agriculture (farmers) while the terms of reference for ICRIER are comprehensive. We expect the reports to be submitted soon," Kumar said.
Members, cutting across party lines, pointed that the tie up with Indian companies by US retail major Walmart even for a single brand was for a possible misuse by them to gain entry into retail through backdoor.
Kumar said the Walmart or any other company would not be allowed to infringe laws of the country.
National
