Union Cabinet

Rescind FDI In Retail

Consequent to the harmful decision to allow 51 per cent FDI in multi-brand retail, the government has diluted even the limited norms set out for foreign retail investment. Under the pressure of the United States, the requirement of 30 per cent sourcing from domestic small and medium industries, the requirement for back up investment and the condition that FDI in retail be allowed in cities of over 10 lakh population have been eased.