June 22, 2012 11:55 AM

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Commerce and Industry Minister Anand Sharma has written to chief ministers of Odisha, Punjab and Uttar Pradesh seeking their support for early implementation of the government's decision to allow 51 per cent FDI in multi-brand retail sector.Mr Sharma said in his letter that FDI in multi-brand retail will bring in investments, technologies and efficiencies to unlock the true potential of the agricultural value chain. The government is trying to build consensus on the politically-sensitive issue after putting on hold the decision to open up the multi-brand sector due to opposition from several state governments and UPA ally TMC. The government has renewed its efforts to forge a consensus on opening the doors to global retailers in the sector, estimated to be a about USD 550 billion market.

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