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Reply #38: FDI in retail: Retailers call for opening of FDI in non-food multi-brand [View All]

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xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-07-11 08:59 AM
Response to Reply #19
38. FDI in retail: Retailers call for opening of FDI in non-food multi-brand

NEW DELHI: Terming the decision to hold back FDI in multi-brand retail as "unfortunate", retailers have expressed disappointment and asked the government to consider partial opening up FDI particularly in the non-food segment.

"It is unfortunate that such an important and much needed economic reform has been suspended. I would like to reiterate that allowing FDI in multi-brand retail will benefit India immensely...," Bharti Enterprises Vice Chairman and MD Rajan Bharti Mittal said.

"...We hope that various stakeholders across the spectrum will take these facts into account, build consensus and allow this major reform to see the light of the day," he said.

Retailers Association of India (RAI) on behalf of all its members has written a letter to the Commerce and the Finance ministries to open the non-food retail to FDI.
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