BJP Goes Back To UPA’s FDI Cap On Retail, Congress Feels Vindicated

The Government has done a complete U-turn on FDI in multi brand retail. The Department of Industrial Policy and Promotion has retained the 51% cap on FDI in multi brand retail in their latest consolidated FDI circular, set under the UPA regime. ET NOW gets you a detailed report on Congress’ reaction to this move and the foreign players’ take on this change. The government may well have retained the policy to not send a negative signal to foreign investors. Listen in.