October 26, 2010 9:25 PM

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Planning Commission favours 50 per cent FDI in multi-brand retail

The Planning Commission on Tuesday said, it favours over 50 per cent foreign direct investment in multi-brand retail in the country. It ,however,allayed fears that it would impact the small stores adversely. Deputy Chairman Montek Singh Ahluwalia told reporters in New Delhi ,the retail sector should not be treated specially and shielded from FDI.Asked about the basis on which the panel firmed up its opinion in favour of allowing FDI in multi-brand retail, he said, the country is not opposed to FDI in multi-brand retail format and there is a lot of investment required for forward and backward linkage.

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