'No pause on FDI in single-brand retail'

NEW DELHI, INDIA: Union Minister of Commerce, Industry & Textiles Anand Sharma has said that the government will go ahead with its decision to allow 100 per cent foreign direct investment (FDI) in single-brand retail.

He was speaking at a meeting with fashion industry people at the convocation ceremony at the National Institute of Fashion Technology (NIFT).

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“In single brand retail, there will not be a pause, its a good beginning .... The Cabinet has approved both (single and multi-brand retail). There is a pause when it comes to notification of the decision taken that is for multi-brand retail for now,” he said.

The government had suspended its decision to allow 51 per cent FDI in multi-brand retail due to the logjam in Parliament over the issue.