The Union government is committed to bringing out a policy on foreign direct investment (FDI) in the retail sector, the primary condition being that it must be linked with the development of back-end facilities.
Speaking at the India Leather Summit, organized by the Council for Leather Exports (CLE), the Minister of State for Commerce and Industry, Mr. Jyotiraditya Scindia, said, "The policy we come out with must involve back-end to front-end linkages in terms of capacity augmentation and investment."
He pointed out that the Department of Industrial Policy and Promotion was evaluating the report of the expert committee, which was an analysis of stakeholders’ comments on the discussion paper floated in July last year.
Source : Exim News Service - NEW DELHI, April 24