Delay in Foreign Direct Investment (FDI) for the retail sector
The foreign trade partners, including the US and the EU are not happy with the decision of the BJP-led Government at the Centre of not allowing foreign direct investment (FDI) in the multi-brand retail sector. Minister of State for Commerce & Industry (Independent Charge) Nirmala Sitharaman informed that press on Tuesday, that the small and medium sized traders and farmers are not yet ready and empowered to deal with FDI. If the foreign multi brand MNCs are given entry immediately, then they will wipe out the small fishes with their huge investment power.
Sitharaman also mentioned that not only in the retail sector, they will allow FDI in other sectors such as the Railways, e-commerce and construction development. However that will only happen after a plan is chartered out and they have looked into all the aspects of these investments in a calibrated fashion.
Source- The Hindu Business Line
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