Sharma seeks Punjab, Haryana’s support for FDI in retailJuly 18th, 2012 - 9:22 pm ICT by IANS
New Delhi, July 18 (IANS) Commerce and Industry Minister Anand Sharma will meet the chief ministers of Punjab and Haryana Thursday to garner support for allowing foreign direct investment (FDI) in multi-brand retail.
Accompanied by senior commerce and industry ministry officials, Sharma is scheduled to visit Chandigarh to discuss the issue with the two chief ministers. Chandigarh is the common capital of Punjab and Haryana.
“As part of ongoing consultation on FDI related issues including FDI in multi-brand retail, Sharma will ascertain the views of the chief ministers on the issue,” the commerce and industry ministry said in a statement.
In November last year, the union cabinet took a decision to allow upto 51 percent foreign direct investment in multi-brand retail. But the move is kept in abeyance due to protests from opposition as well as some of the allies of the ruling United Progressive Alliance (UPA) government especially, the Mamata Banerjee-led Trinamool Congress.
The commerce and industry minister has been holding stakeholders’ consultations to garner support on the issue.
Sharma has written letters to chief ministers of several states, including Punjab, seeking their support for allowing overseas investments in Indian supermarkets. This is expected to remove bottlenecks from the supply chain and help curb inflationary pressure.
- 'Efforts on to allow FDI in multi-brand retail' - Mar 16, 2012
- Only 4 states, UTs support FDI in retail: Government - Aug 08, 2012
- No reversing decision on FDI in multi-brand retail: Sharma - Jul 27, 2012
- Many chief ministers want FDI in multi-brand retail: Sharma - Jun 27, 2012
- Farmer association supports FDI in retail - Dec 22, 2011
- India allows FDI in multi-brand retail - Sep 14, 2012
- States have prerogative not to allow FDI in multi-brand retail: Government - Sep 18, 2012
- FDI in retail on hold till CMs respond, says Anand Sharma - Jul 19, 2012
- Sharma to reveal states which supported FDI in retail - Dec 03, 2011
- FDI will revolutionise retail sector: Government - Nov 27, 2011
- We are not against FDI in retail: Akhilesh Yadav - Jul 24, 2012
- Anand Sharma writes to parties clarifying FDI stance - Nov 28, 2011
- India considering proposal from Swedish firm Ikea: Sharma - Oct 28, 2010
- Ally Trinamool joins BJP, Left in opposing FDI in retail - Nov 24, 2011
- Trinamool to continue opposition to FDI in retail - Aug 10, 2012
Tags: abeyance, allies, anand sharma, bottlenecks, capital of punjab, chief ministers, consultations, fdi, foreign direct investment, industry minister, industry ministry, inflationary pressure, mamata, ministry officials, New Delhi, overseas investments, progressive alliance, protests, supermarkets, union cabinet