India has said it will go for calibrated FDI liberalisation in sectors like defence and retail amidst the US demand for opening different segments for foreign investors.
Commerce and Industry Minister Anand Sharma, who participated in the Indo-US CEOs Forum on Tuesday, said: “(In) defence and retail trade we favour calibrated (foreign investment) liberalisation on account of domestic sensitivities.”
He said government initiatives like simplification and consolidation of the FDI policy would go a long way in improving the business environment.
FDI is not allowed in multi-brand retail, though foreign players are permitted in wholesale trade and single-brand retail. In defence, 26 per cent FDI is allowed at present.