New Delhi: The government on Wednesday said it will not be possible to allow foreign direct investment (FDI) in multi-brand retail trading in India unless small traders and farmers are “empowered” and can face market competition. We welcome anybody... but if some way this dialogue is moving towards, why not (FDI in) multi-brand retail in India? My answer is, not yet,” commerce and industry minister Nirmala Sitharaman said at The Economist India Summit 2016. She was replying to the question as why to India is not permitting FDI in retail trade. The last government had cleared the UK-based Tesco’s proposal in multi-brand retail.

Source: Mint September 07, 2016 12:45 UTC