Expect policy changes soon in FDI in Multi-brand retail

The government is expected to take a decision in the next three months on allowing foreign direct investment in multi-brand retail, a long pending issue.

A new National Manufacturing Policy creating an investor friendly environment is also likely, Minister of State for Commerce and Industry Jyotiraditya Scindia said today.

“We are committed to the issue on FDI in retail…I think over the next quarter you will see a decision and an announcement on both the issues,” Scindia said at Export Promotion Council for EOUs and SEZs award function here.

A cabinet note on FDI in multi-brand retail has already been circulated by the Department of Industrial Policy and Promotion (DIPP), which had earlier come out with a discussion paper on the politically sensitive issue.

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