July 23, 2011 8:36 AM

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Panel recommends 51% FDI in retail

The Committee of Secretaries has recommended allowing 51 per cent FDI in the multi-brand retail. AIR correspondent reports this will be with a rider that the foreign investment should be at least $100 million, of which at least 50 per cent would have to be in back end infrastructure such as cold storages, soil testing laboratories and seed farming. The Secretaries Committee recommendations will have to be approved by the Union Cabinet before implementation.

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