NDA govt retains 51 percent FDI in multi-brand retail

The BJP-led NDA government has retained the previous UPA regime's decision allowing foreign retailers to open multi-brand stores with 51 percent ownership, a consolidated FDI policy document released said. The previous government allowed 51 percent foreign investment in multi-brand retail in 2012 but left the final decision of letting foreign players open stores in a particular state, to state governments.

The BJP, on the other hand in its election manifesto, had opposed FDI in multi-brand retail however, interestingly it made no changes in policy. The latest edition of the annual FDI document, a 119-page new compendium, details all existing FDI policy decisions and also changes made over the past one year by the Modi government.