India's decision on FDI in multi-brand retail to be respected

Tags: News
The indication by the BJP government not to allow multi-brand retail by foreign players, was to be respected, British Deputy High Commissioner Scott Furssedonn-Wood said today.

"This is a decision of an individual country and we respect the decision," Furssedonn-Wood said when asked to speak on Commerce and Industry minister Nirmala Sitharaman comments that indicated not allowing foreign players in multi-brand retail.

The previous Congress-led UPA government had allowed FDI in multi-brand retail only on one investment proposal by UK-based Tesco.

Tesco had formed a 50:50 joint venture with Tata group's Trent Hypermarket Ltd to enhance presence in the country.

Furssedonn-Wood was optimistic about making the relationship between the two countries stronger and deeper.

He said British Premier David Cameron was the first world leader to speak to Indian Prime Minister Narendra Modi to congratulate him on his election victory.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Changes to FDI investment norms for housing look cosmetic

    The policy measures announced on Wednesday for facilitating greater participation of foreign direct investment (FDI) in the real estate sector do not

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Varun Dutt

Energy conservation through feedback

In households across the world, people use electric energy not ...

Zehra Naqvi

Rememberance and forgetting are crucial

Memories are so vital to our lives that they can ...

Dharmendra Khandal

Sandalwood may get extinct if not protected

When we talk of sandalwood, the most common usage that ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture