Mumbai: One sector that can hope to get some clarity from the new government on the foreign direct investment (FDI) front perhaps immediately is retail.
With the opponents of organised retail, i.e. the Left and BJP, biting the dust, players in retail are looking forward to furthering their interests through expansions and foreign investments.
In 2006, the UPA had encouraged organised retail by opening up FDI in single brand outlets up to 51%. The same is not permitted for multi brand outlets. The previous government, heavily dependent on the Left parties, was, however, forced to go slow on this front. All this might change now.
The sector could witness some policy decisions by the Congress-led UPA regime, including higher FDI, feel industry observers.
Future Group CEO Kishore Biyani said: “The government has been talking of a calibrated approach towards FDI. The time has come. The boost to the economy, expected after the Congress sweep, will generate further consumption. They could be announcing some more measures to generate growth in the retail sector.’’
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