Retail in Asia

In Markets

India’s multi-brand retail FDI likely to get timeline

The Indian government is likely to announce in the Budget a timeline for allowing 51 percent foreign direct investment (FDI) in multi-brand retail.

To show the government’s commitment to reforms, Finance Minister Pranab Mukherjee may make an announcement as a major reform process on 16 March and give the proposal a fresh lease of life to build investors’ confidence.

Officials said though the move was held back due to political differences with some allies and the opposition, industry department was meeting with various sections of the society, including farm organisations, to build an opinion in favour of bringing in FDI.