FDI in retail will play out like a ‘lab experiment’

Chief Economist of World Bank Kaushik Basu welcomed the difference in opinion among States on allowing foreign investors into the domestic retail industry. Though he described the move by the Union Government as a “good” reform initiative, the former Chief Economic Advisor to the Government felt that the autonomy of State governments in implementing it offers India an opportunity to weigh the pros and cons of allowing 51 per cent FDI in retail.

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