From deciding the winners of reality shows on Indian television, the Indian populace may now decide on the future of foreign direct investment (FDI) in Indian retail sector, as a parliamentary panel has sought views from public and traders on allowing big investments, including FDI, in the organised retail sector.
According to a press release from the Ministry of Commerce, the Parliamentary Standing Committee on Commerce, headed by senior BJP leader Murli Manohar Joshi, is examining the issue of foreign and domestic large investment in the retail sector and has invited public opinion on this matter.
The committee has already received some feedback from its visits to different parts of the country and hopes to receive more inputs from a wider section of stakeholders and the public.
The government has liberalised FDI norms for a host of sectors including aviation, commodity exchanges and petroleum refining, but has left the retail sector untouched. Under the prevalent norms, 51 per cent foreign direct investment is allowed in single brand retail, while 100 per cent is allowed for cash-and-carry business.