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Sharma confident of implementing FDI in multi-brand retail

Last Updated: Friday, December 23, 2011 - 22:08

New Delhi: Commerce and Industry Minister Anand Sharma on Friday exuded "confidence" that the government will implement the decision of allowing 51 percent FDI in the multi-brand retail sector.
"We have not taken decision back, we will consult again (with the stakeholders) and I am absolutely confident that we will implement it," Sharma said at a function here.
The policy to allow foreign direct investment (FDI) in multi-brand retail, that would have permitted global retailers like Walmart, Tesco and Carrefour to open outlets in India, was put on hold by the government in the wake of strong objection from the opposition BJP and its key UPA allies, Trinamool Congress and DMK, and several state governments.
Sharma said they had consulted all the stakeholders including farmers, states, consumers and industry before the Cabinet decision.
The minister said that if FDI is allowed in sensitive sectors like telecom and defence, people should not oppose in the retail sector.
"We know that in a democracy, it is difficult to sustain consensus...," he added.


First Published: Friday, December 23, 2011 - 22:08
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