Commerce and Industry Minister Anand Sharma has termed the Delhi government's decision to disallow FDI in multi-brand retail as irresponsible and ill-considered. Sharma told reporters in New Delhi that India is not a banana republic where policy decisions can be reversed. He said his ministry will examine the communication of the Aam Aadmi Party-led Delhi government on reversing the earlier decision of allowing FDI in multi-brand retail. The Minister said the Centre had formulated the policy after wide consultations with all stakeholders, including state governments. He said the communication received by his Ministry does not give any reasons for the withdrawal of the policy.The city government wrote to the Centre to withdraw the approval given by the previous government saying FDI would result in large-scale unemployment.Meanwhile, Congress expressed surprise over this decision and party is planing to take up the issue in the state assembly. Talking to reporters after the meeting with Commerce Minister, Party president of Delhi Unit, Arvinder Singh Lovely said the decision has no legal backing. He said his party will call for a discussion on the matter in the assembly.
News On AIR | January 14, 2014 6:47 PM
Anand Sharma: Delhi govt's decision on FDI in retail irresponsible & ill-considered