NEW DELHI: The proposal of allowing foreign direct investment (FDI) in multi-brand retail has been so far supported by only four States and Union Territories (UTs).
With this, global retail chains like Walmart and Carrefour will have to wait to enter into the Indian markets.
“Till date, written communications, indicating support for foreign direct investment (FDI) in multi-brand retail trade, have been received from the governments of Delhi, Manipur and from Daman & Diu and Dadra Nagar Haveli,” Minister of State for Commerce and Industry Jyotiraditya Scindia informed the Rajya Sabha today in a written reply.
On June 19, the Department of Industrial Policy and Promotion (DIPP) had written to governments of all states and Union Territories to present their views on the contentious issue.
Last year on November 24, the Union Cabinet had decided to allow 51 per cent FDI in multi-brand retail, but the government failed to give a final shape to the proposal in the face of strong opposition from UPA-ally Trinamool Congress and several state governments.
However, the minister said that there was no proposal to allow 100% FDI in multi-brand retail.