Panel May Moot Fdi In Retail, Real Estate

The steering committee on foreign direct investment (FDI) will take a liberal view on the issue of sectoral caps and is also likely to recommend permitting FDI in sectors like retail, real estate and plantation. In print media, the committee is of the opinion that FDI can be allowed in periodicals and scientific journals.

Talking to reporters, Arvind Virmani, member-secretary, Planning Commission, who is a member of the steering committee, said they would be submitting the recommendations to the deputy chairman of the Planning Commission by March end. He, however, added that the committee chairman N K Singh had been having frequent discussions with the finance ministry and some of the recommendations may figure in the forthcoming Budget.

Virmani said the government should also consider forming an India Panel to project the country as an attractive investment destination to overseas investors. He also said the committee is considering the need to enact a separate legislation for expediting FDI in the infrastructure sector.