Ease FDI rules in retail: Kishore Biyani

Interview with Founder, Future Group

Walmart Asia chief almost signaled the end of partnership between the US retail giant and Bharti Retail by saying the franchise between them is not tenable given that FDI in retail has not succeeded. Raghavendra Kamath speaks to Future group founder Kishore Biyani on his perspectives

Walmart Asia head has put a question on Bharti-Walmart joint venture . How do you look at it.

I am not commenting on that.

What does this mean for Indian retail sector?

Nothing. It does not mean anything.

What signals it send to foreign retail chains and those who were looking for FDI in their ventures?

Everybody was hoping that policy will create flexibility for foreign chains to invest here. Retail is about how do you provide flexibility to customers and not about dictating terms to him.

I think not many (domestic companies) are banking on FDI in retail. Foreign money will come through private equity, through press note 2,3 and 4..

Walmart Asia chief said it is not possible for foreign chains to comply with FDI guidelines. What the government should do now.

I do not know. But government should think about making laws flexible.