PC not drafting any paper on FDI retail

PC not drafting any paper on FDI retail

By agencies   |   Monday, 24 October 2005, 07:00 Hrs
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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.

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