No plan to review FDI rules in retail, says minister

No plan to review FDI rules in retail, says minister

New Delhi: The government has no plan to further liberalize foreign investment in retail sector, the commerce and industry minister said on Wednesday.

India, currently, does not permit foreign direct investment (FDI) in multiple-brand retailers, restricting global firms like Wal-Mart Stores and Carrefour from selling directly to customers in the country.

Foreign holdings in single-branded retailers are capped at 51%.

“We have no intent to review FDI in retail sector except what is permitted in single brand retail," Anand Sharma told the lawmakers in the Rajya Sabha.

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