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India should open up FDI in multi-brand retail - Ahluwalia
India's Planning Commission Deputy Chairman Montek Singh Ahluwalia speaks during a conference in New Delhi August 18, 2009.
Credit: Reuters/B Mathur/Files
NEW DELHI |
NEW DELHI (Reuters) - India should open its multi-brand retail sector to foreign investors and raise its investment cap in the insurance sector to 49 percent from the current 26 percent, Montek Singh Ahluwalia, the deputy chairman of the Planning Commission, said on Monday.
India does not allow foreign direct investment in multi-brand retail though it allows 51 percent in the single-brand sector. Several Indian officials have called for the sector to be freed up but the government has not taken a final position on a policy change.
(Reporting by Rajesh Kumar Singh)
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