NDA-govt finally opens country’s doors to foreign retailers

Despite its strong opposition to foreign direct investment (FDI) in multi-brand retail, which was also a part of its election manifesto, the NDA government has finally opened its doors to mega retailers like Walmart and Carrefour. These global giants can now invest in India’s multi-brand retail through the foreign portfolio investment (FPI) route. The government has decided to allow FPI up to 49 percent or up to the sectoral cap (whichever is lower) through the automatic route.