<p>The Department of Industrial Policy and Promotion (DIPP) has announced to float six concept or discussion papers on foreign direct investment (FDI) related norms in different sectors, including defence, multi-brand retail, agriculture and financial sector, among others.<br />“You can expect the papers on defence and retail next week,” sources said. The concept notes would be floated on the DIPP Website to elicit views from stakeholders.<br /><br />The paper on retail FDI may include a provision that interested global retailers would have to put in a significant part of their investment in the back-end infrastructure like warehousing and clod storage, a source said.<br /><br />At present, FDI is not allowed in multi-brand retail, which is dominated by the neighbourhood kirana stores and is a politically-sensitive topic. However, foreign players are permitted in wholesale trade as also in single-brand retail.<br />Since FDI is not permitted in retail, world’s number one retailer Wal-Mart has settled for a cash-n-carry (wholesale) joint venture with the Bharti Group.<br /><br />On defence, commerce and industry minister Anand Sharma stated recently that the Centre was open to liberalising FDI norms in defence and inter-ministerial consultations were on.<br />Press Trust of India</p>
<p>The Department of Industrial Policy and Promotion (DIPP) has announced to float six concept or discussion papers on foreign direct investment (FDI) related norms in different sectors, including defence, multi-brand retail, agriculture and financial sector, among others.<br />“You can expect the papers on defence and retail next week,” sources said. The concept notes would be floated on the DIPP Website to elicit views from stakeholders.<br /><br />The paper on retail FDI may include a provision that interested global retailers would have to put in a significant part of their investment in the back-end infrastructure like warehousing and clod storage, a source said.<br /><br />At present, FDI is not allowed in multi-brand retail, which is dominated by the neighbourhood kirana stores and is a politically-sensitive topic. However, foreign players are permitted in wholesale trade as also in single-brand retail.<br />Since FDI is not permitted in retail, world’s number one retailer Wal-Mart has settled for a cash-n-carry (wholesale) joint venture with the Bharti Group.<br /><br />On defence, commerce and industry minister Anand Sharma stated recently that the Centre was open to liberalising FDI norms in defence and inter-ministerial consultations were on.<br />Press Trust of India</p>