The government will soon bring in more clarity to the foreign direct investment (FDI) regulations in multi-brand retail which would help attract investments into the country, Finance Minister P. Chidambaram said Wednesday.
"The Commerce ministry is in the last leg of clarifying the policy," the finance minister said at a press conference here.
Chidambaram said the commerce ministry is likely to place the proposal at Thursday's cabinet meeting.
The government last year had opened the gates for multi-brand retail sector to foreign investors, by allowing up to 51 percent FDI.
However, no foreign investment has taken place in the sector so far.
Chidambaram hoped that the overseas investors would enter into the Indian multi-brand retail markets, once the issues were clarified.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app