In order to facilitate greater foreign direct investment (FDI) in the country, the government is considering further easing FDI norms in several sectors, including retail trading, with an eye on more inflows. The commerce and industry ministry is already on the job in this direction and they said that there are certain sticking points in single brand retail trading that need to be reviewed.
In retail trading sector, some clauses in the Legal Metrology (Packaged Commodities) Rules, 2011, are hampering overseas investments in the segment. Earlier, it lifted certain restrictions in over a dozen sectors which include civil aviation, food processing, defense and pharmaceuticals. The government may also consider easing certain FDI rules in the information and broadcasting sector, among others.
Department of Industrial Policy and Promotion (DIPP) Secretary Ramesh Abhishek has stated that the government is trying to address specific policy issues in various sectors. They are also trying to address specific policy issues in various sectors and they have identified a number of them that remain despite liberalization in FDI (policy). He said that there could be issues in various sectors. In 2015-16, FDI grew by 29 per cent to $40 billion.
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