No going back on multi-brand Retail FDI: Govt

The decision on foreign direct investment (FDI) in multi-brand retail was “cast in stone”, a combative Centre said Sunday even as the Opposition gathers firepower to take on the government when Parliament opens for winter session on November 22.

The decision on foreign direct investment (FDI) in multi-brand retail was “cast in stone”, a combative Centre said Sunday even as the Opposition gathers firepower to take on the government when Parliament opens for winter session on November 22.

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The government was confident of “convincing the majority in Parliament” on allowing 51% FDI in retail, commerce and industry minister Anand Sharma said, criticising the Opposition for creating unnecessary hurdles in the way of a decision “taken in the interest of the country”.

Sharma is accompanying Prime Minister Manmohan Singh to Phnom Penh, Cambodia, to the Asean and East Asia summits.

The Opposition says the move will hurt small traders and benefit a handful of global giants.

The Trinamool Congress, which stormed out of the UPA over FDI and other issues, is threatening to bring a no-confidence motion and sought the BJP’s support on Sunday.