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FDI in multi-brand retail do not violate int'l pacts
19 Sep '12
3 min read
The recently approved policy on FDI in multi brand retail trading provides, inter-alia, that it would be the prerogative of the states to allow a multi brand store. The policy nowhere provides that it is applicable only to certain states.
The policy itself is a national policy and can potentially be applicable to all the states that are desirous of implementing it.
The local and state-level regulations which govern shops and establishments are the prerogative of the respective state governments. The policy explicitly acknowledges this position.
The opening up of FDI in multi brand retail trading is a liberalization measure and remains so with all the conditionalities, given the fact that currently FDI in multi brand retail trading is not allowed at all in India.
The decision does not violate any commitments/obligations arising out of India's international agreements.
Ministry of Commerce & Industry
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