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Patna,(BiharTimes): The Union Commerce and Industry Minister, Anand Sharma, said that like many other states the Centre would ask Bihar to allow 51 per cent Foreign Direct Investment in multi-brand retail sector.
Talking to the newsmen in Patna on Wednesday Sharma, who is on a two-day visit to Bihar, said that Chief Minsters of Maharashtra, Haryana, Andhra Pradesh, Delhi, Assam, Rajasthan and Kerala have already given their written commitment on allowing FDI in the sector. |
He said he had written to three Chief Ministers of non-Congress states of Uttar Pradesh, Punjab and Odisha. In the same way he said he would be writing to the Bihar Chief Minister Nitish Kumar on this issue.
It needs to be recalled that late last year the government has suspended the implementation of the decision to allow Foreign Direct Investment in the multi-brand sector after pressure from several states, including a key UPA ally Trinamool Congress.
But following strong criticism of government by global rating agencies and some key industry leaders––for example, Azim Premji and Narayan Murthy––the government has renewed efforts to forge a consensus on the politically sensitive issue.
Sharma’s letter said that opening of the $ 550 billion sector would bring employment opportunities for rural youth and make them stakeholders in the entire agri-business chain.
The Union minister claimed that several studies have revealed that local stores have found innovative ways to co-exist along with organised retail and one should not be afraid of negative impact on them.
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