Lankan Ranger
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Calibrated FDI opening in retail, defence: India to US
India has said it will go for calibrated FDI liberalisation in sectors like defence and retail amidst the US demand for opening different segments for foreign investors.
Commerce and Industry Minister Anand Sharma, who participated in the Indo-US CEOs Forum yesterday, said: "(In) defence and retail trade ... we favour calibrated (foreign investment) liberalisation on account of domestic sensitivities."
He said that his government's initiatives like simplification and consolidation of the FDI policy would go a long way in improving business environment in India.
FDI is not allowed in multi-brand retail, which is dominated by the neighbourhood kirana stores and is a politically-sensitive topic. However, foreign players are permitted in wholesale trade as also in single-brand retail,
At present 26 per cent FDI is allowed in defence sector.
fullstory
India has said it will go for calibrated FDI liberalisation in sectors like defence and retail amidst the US demand for opening different segments for foreign investors.
Commerce and Industry Minister Anand Sharma, who participated in the Indo-US CEOs Forum yesterday, said: "(In) defence and retail trade ... we favour calibrated (foreign investment) liberalisation on account of domestic sensitivities."
He said that his government's initiatives like simplification and consolidation of the FDI policy would go a long way in improving business environment in India.
FDI is not allowed in multi-brand retail, which is dominated by the neighbourhood kirana stores and is a politically-sensitive topic. However, foreign players are permitted in wholesale trade as also in single-brand retail,
At present 26 per cent FDI is allowed in defence sector.
fullstory
