Notification

Resolutely Oppose Notification on FDI in Retail

That the government is bent upon promoting FDI in retail at the cost of domestic interests is clear from the dilution of the conditions set for FDI in single-brand retail. Earlier, the rule was that for FDI above 51 per cent in single brand retail, there was a mandatory sourcing of at least 30 per cent of the value of products sold from Indian “small industries/village and cottage industries”. Now this has been diluted. It is stated that instead of mandatory sourcing it is “preferably” from small and medium enterprises etc. Further, the definition of small industries has also been done away with.