Close

LOGIN

Remember me
Not a member?
or
Connect using:
Why BS?

We encourage visitors to register on Business Standard. Registering on the site is absolutely Free and offers you the following benefits.

Free Daily E-newsletter

Breaking News Alerts in your Inbox

Post Comments and Share your Feedback

Your Personal Business Standard Page

Free Portfolio of Stocks, Equity and Commodities Derivatives

Access Premium Services

Receive Selective Offers from our Third Party Premium Advertisers

Get Invited to Business Standard Events

Close

FORGOT PASSWORD?

Not a member?

States have to power to allow global retailers: Sharma

After the Strong opposition Trinamool, the Centre has suspended its decision to allow 51% FDI in multi-brand retail

Read more on:    FDI | Oommen Chandy | Anand Sharma
Related News

In the wake of Kerala Chief Minister denying his support to in multi- brand retail, Commerce and Industry Minister today said states which want to allow global retailers to open stores "cannot be prevented".

Contrary to his earlier statement that seven Chief Minsters, including Chandy, have given their written commitment on allowing FDI in the politically sensitive sector, Sharma said Kerala has its reservations over the issue.

"What Chief Minister of Kerala had said, that is in public domain, he had made a statement...That there are states who have reservations and Kerala has its reservations, and Kerala may not implement it. However, he did say that they also respect the rights of the other states," he said.

The Minister said that those states who want to allow global retailers to open stores "they cannot be prevented".

Chandy has yesterday said there was no change in the state's opposition to Foreign Direct Investment (FDI) in the sector and the state government had not sent any letter to the Centre giving consent for it.

"...Neither Chief Minister (Chandy) has said something which can be faulted, or objected, nor I have said anything which is being objected to," he added.

After the strong opposition by the UPA government's key ally Trinamool Congress, the Centre has suspended its decision to allow 51 per cent FDI in multi-brand retail sector.

After that, the commerce and industry ministry has started fresh consultations with stakeholders and state government for early implementation of the policy.

"Well I fail to understand why this controversy is being created. There has been a national discussion, as the government has been engaged in the efforts to build a consensus after the decision was taken to have FDI in multi- brand retail...We will talk to all the stakeholders and the states concerned," he said.

The Minister said that they are talking to the Chief Ministers of large agrarian states such as Haryana, Maharashtra, Andhra Padesh and Punjab on the issue.

"The fact is that we recognise those states who are in favour of it. It is their right. There are states who have reservations, we have to respect their wishes too," he added.

Read more on:   
|
|

Read More

Jaya govt presents tax-free budget in Tamil Nadu

The Jayalalithaa Government in Tamil Nadu today presented a tax-free budget for 2013-14, proposing 'prudent fiscal management", amidst gloomy ...

Back to Top

Quick Links

Back to Top