Decision on FDI in retail kept on hold | SupportBiz

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Decision on FDI in retail kept on hold

Union Commerce Minister Anand Sharma said that the proposal to allow foreign direct investment (FDI) in the retail sector has been kept in abeyance for the time being till all the response of all chief ministers is received. Addressing media in Chandigarh after meeting the chief ministers of Punjab and Haryana separately, the union minister said that some chief ministers were yet to respond to the proposal, and so, the matter was held in abeyance.

Sharma said that he would like all chief ministers to state their views on this issue before taking a final decision.

"Since our country is a union of states, we abide by its federal character and, therefore, are bound by the consensus on the issue," Sharma said.

When asked if the Punjab government had made its stand clear on the issue, Sharma said that the state had not commented on it yet.

The ruling Shiromani Akali Dal in Punjab had first welcomed FDI in retail sector, but later changed its stand and started opposing it. The Akali Dal has an alliance government with the Bharatiya Janata Party (BJP) in Punjab. The BJP and BJP-ruled states are opposing the FDI in retail.