India Trying to Build Consensus on Liberalising FDI in Retail

India is looking to make its position strong in promoting foreign direct investment in country. Finance Minister said in a press conference in Washington to maximize liberalization in defence and retail sector. In this direction finance Minister is trying to build up a unanimous policy to increase the foreign direct investment. The defence minister wants the FDI to be restricted to just 49%.There exists differences within the government on this issue. Other ministries have also opposed this decision from Finance Minister. The policy is under discussion and any decision would be taken after the final discussion completed with in the government.

Taking this issue Mukherjee will further have discussion with US treasury secretary beginning from tomorrow. The US wants new opening of industries in Indian markets and is of the view that this process should go on realizing each other potentialities and capabilities. The future discussion can be productive when tow countries jointly work together for it. The Indian market is full of potentialities and US is waiting for the nest move from India on retail sector. It is still unclear that at what percent will FDI be allowed to work on. Many companies have welcomes this step where as there are companies who have expressed their displeasure on this issue.