Getting all of India to buy the FDI idea in retail

The recent proposal to do away with stringent riders if foreign direct investment is below the majority stake was spurred by the marked diffidence on the part of global retail giants to invest more in India. Last year, the Government allowed 51 per cent FDI in multi-brand retail, subject to prior approval and fulfilment of strict conditions. While the move was announced with fanfare, investors were not as enthused. Apart from further rationalisation of FDI norms, other important issues need to be ironed out to encourage investors and fuel growth in the sector.

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