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Economic Survey stresses FDI in multi-brand retail
Posted On: 03-07-2009 10:07:17 AM

India needs to fully open its retail market to foreign investors in order to drive economic growth. Making a strong case for opening up multi-brand retail to FDI, the Economic Survey, tabled in Parliament, said that a beginning may be made with food retailing. Initially the FDI could be allowed subject to the setting up a modern logistics system, with a condition that it must have (for five years say) wholesale outlets where small, unorganized retailers can also purchase items. India allows 51% FDI in single brand stores like Nokia, Louis Vuitton and Nike. It also allows 100% in wholesale cash & carry model, but has kept out FDI in multi-brand retail owing to political opposition as also that from mom and pop store operators.

 
 
 

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