FDI in retail on hold till CMs respond, says Anand Sharma | business | Hindustan Times
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FDI in retail on hold till CMs respond, says Anand Sharma

business Updated: Jul 19, 2012 22:22 IST
Anand Sharma

Union commerce minister Anand Sharma today said that the proposal to allow foreign direct investment (FDI) in the retail sector has been kept in abeyance for the time being till all the chief ministers' response is received.

Addressing media here after meeting the chief ministers of Punjab and Haryana separately, the union minister said that some chief ministers were yet to respond to the proposal and so the matter was held in abeyance.

Sharma said he would like all chief ministers to state their views on this issue before taking a final decision.

"Since our country is a union of states, we abide by its federal character and, therefore, are bound by the consensus on the issue," Sharma said.

Asked if the Punjab government had made its stand clear on the issue, Sharma said that state had not commented on it yet.

The ruling Shiromani Akali Dal in Punjab had first welcomed FDI in retail sector but later changed its stand and started opposing it. The Akali Dal has an alliance government with the Bharatiya Janata Party (BJP) in Punjab. The BJP and BJP-ruled states are opposing the FDI in retail.