Government to talk to states on FDI in multi-brand retail

October 27th, 2010 - 9:40 pm ICT by IANS  

New Delhi, Oct 27 (IANS) Food and Agriculture Minister Sharad Pawar Wednesday said the government will talk to the states about opening up the multi-brand retail sector to foreign direct investment.

The minister said there were “serious problems” in allowing 100 percent foreign direct investment (FDI) in retail as it would affect the interest of small shopkeepers of the country.

“It will give good prices to farmers and consumers will also get wider choices. But we cannot bypass the small shopkeepers,” he told the Economic Editors’ Conference here.

India allows 51 per cent FDI only in the single-brand retail. Multi-brand retail is restricted to cash-and-carry or wholesale outlets.

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