Government is likely to further open up the retail sector for foreign direct investment (FDI), especially emphasizing weaker domestic sectors like electronics and sports accessories.
India has emerged as one of the most booming economies, lately, and this decision would be a real welcome for global players like Wal-Mart.
Currently, FDI is restricted to single brand stores but the multiple brands may also be cleared.
Sources said that if everything went well, Government may open up six categories.
The Industry Ministry Kamal Nath will meet with the Consumer Affairs Ministry to ensure that the expansion did not affect farmers or traditional small retailers.
marketing@alchempro.com
