Union minister for Commerce and Textiles Anand Sharma today ruled out any possibility of rollback of Government’s decision over allowing foreign direct investment (FDI) in multi-brand retail. Sharma, who was in Ahmedabad for the NID function, also urged his former colleague and TMC chief Mamata Banerjee, to 'reflect and ponder' over her decision.

Addressing a press conference at State Congress Head Quarter in Ahmedabad, Mr.Sharma said that the word rollback is not in our dictionary. The decision on allowing 51 per cent FDI in multi-brand retail was taken last year along with permitting 100 per cent FDI in single brand retail. The FDI in single-brand retail was notified, but decision on FDI in multi-brand retail was put under suspension.

He said that a decision on considered view to allow FDI in multi-brand retail was taken based on strong demands from the states. He said that in the spirit of constitution, Center has to respect the demands of all the state in a Federal structure. Mr.Sharma opined that the policy of the Union government on FDI multi-brand retail was an enabling one and its implementation was left out to the wisdom of the states.

AIR Ahmedabad Correspondent reports that a strong view from the Union Minister Mr.Sharma came just a day after Trinamool Congress- a key ally of the UPA government, withdrew its support over the issues of foreign direct investment in retail and hike in diesel prices.