The Indian Government does not currently have any proposal under its consideration to review the foreign direct investment (FDI) policy in the multi-brand retail sector. At present, the government permits foreign investors to hold a maximum of 51 per cent stake in an Indian retail company. However, 100 per cent stake is allowed in single-brand retail sector. “No proposal is under consideration of the government to review the extant FDI policy on multi-brand retail,” Commerce and Industry Minister Nirmala Sitharaman said in a written reply to the Lok Sabha. Under the existing policy for FDI in multi-brand retailing, so far, only one company—Tesco, has received the government’s nod for opening stores in the country.
