Allow FDI in multi-brand retail: Ministry

Dear All please send  your comment  / feedback on following article published in Times of India Today....

 The industry ministry on Wednesday made out a strong case for opening up the multi-brand retail sector for foreign direct investment (FDI), stating that the move will help both consumers and producers, particularly of agricultural items.
"The objective will be to enhance operational efficiency of back-end infrastructure in the retail sector, reduce wastage in the agriculture sector, enhance benefit to producers... and benefit consumers through greater consumption," minister of state for commerce and industry Jyotiraditya Scindia said in a written reply to the Rajya Sabha.
The department of industrial policy and promotion had floated a discussion paper — FDI in Multi-Brand Retail Trading — and invited comments on it. It has received suggestions from a large number of stakeholders, including global retail chains like Carrefour. However, Scindia did not indicate how soon a decision on the issue will be taken.
"It is expected that the views and suggestions received in response to this discussion paper will enable the government to take an appropriate policy decision at the appropriate time," he said. The issue of FDI in the sector is considered politically sensitive, as over 90% of India's retail trade is in the unorganised sector — with kirana shops employing as many as 33 million people.
Currently, the government allows 51% FDI in single brand retail and 100% FDI in wholesale cash-and-carry trade. However, FDI is not permitted in multi-brand retail.

Ref :- Time of India