PC not drafting any paper on FDI retail

By agencies   |   Monday, 24 October 2005, 07:00 Hrs
Printer Print Email Email
NEW DELHI: Planning Commission Deputy Chairman Montek Singh Ahluwalia today said that the Commission has not prepared any paper on allowing FDI in retail sector.

"The Commission is not preparing any paper on FDI in retail. It is for the nodal ministry, the Commerce and Industry Ministry to prepare the Cabinet note and decide on the issue," Ahluwalia said.

Some newspapers had reported that the Commission was preparing a draft paper for FDI in retail sector. "We are involved in the internal discussions that are being held on the issue within the government, but we are not drafting any paper," he said.

Ahluwalia said that the Commission's views on the issue has already been spelt out in the Mid Term Appraisal of the 10th Plan where it has suggested that there are substantial advantages in opening up of the retail sector for FDI.

GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..
Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..
SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..
Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..