Govt should open up FDI in multi-brand retail: adviser

Govt should open up FDI in multi-brand retail: adviser

New Delhi: Government should open its multi-brand retail sector to foreign investors and raise its investment cap in the insurance sector to 49% from the current 26%, Montek Singh Ahluwalia, the deputy chairman of the Planning Commission, said on Monday.

Government does not allow foreign direct investment in multi-brand retail though it allows 51% in the single-brand sector. Several officials have called for the sector to be freed up but the government has not taken a final position on a policy change.

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