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India has no plan to review FDI rules in retail: Government

26 Nov 2009

India has no plan to further liberalise foreign investment in retail sector, the trade 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 per cent.

"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 upper house of parliament.

Source: Agencies