Efforts to arrive at a broad based consensus on allowing FDI in retail trade up to 51 percent

New Delhi, Mar 16 (ANI): The Central Government is making efforts to arrive at a broad based consensus in consultation with state governments in respect of the decision to allow FDI in multi-brand retail trade up to 51 per cent.

Finance Minister Pranab Mukherjee in his budget speech in the Lok Sabha said that at present, FDI in single brand and in cash and carry whole trade is permitted to the extent of 100 per cent.

The decision in respect of allowing FDI in multi-brand retail trade up to 51 per cent has been held in abeyance.

Mukherjee said that organized retail helps in reducing cost of intermediation due to economies of scale, benefiting both consumer and producers. (ANI)