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Fresh retail FDI not now: Centre

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Foreign direct investment (FDI) in retail sector for multi-brand products will be examined only after government receives reports from two analyst agencies, Rajya Sabha was informed yesterday.

The two agencies are Indian Council for Research on International Relations (ICRIER) and National Council for Applied Economic Research (NCAER), Minister of State for Industry Ashwani Kumar told the House.

“As of now, FDI in retail is allowed only for single brand and there is no embargo to allow domestic players in retail,” he said.

“NCAER will specifically study the impact of FDI on agriculture (farmers), while the terms of reference for ICRIER are comprehensive. We expect the reports to be submitted soon,” Kumar said.

– Bengaluru Bureau

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