Indian government is not put forward any plans to impose
restrictions on foreign direct investment (FDI) in the retail and agriculture sector,
Commerce and Industry Minister Nirmala Sitharaman said in a written reply to
the Lok Sabha.
The reply assumes significance as the Minister had
earlier said the Government will not “entertain” foreign direct investment in
multi-brand retail trading.
India permits 51 per cent FDI in multi-brand retail
and 100 per cent overseas investments in the single retail sector.
Replying to a separate question on the free trade
agreement, she said India and the European Union are currently negotiating a
bilateral broad-based Trade and Investment Agreement (BTIA).
“So far 15 rounds of negotiations have been held. The last engagement between both sides was held in May 2013 in New Delhi. Since then, the EU had largely disengaged from the negotiation. However, recently a meeting was held between both sides to take stock,” she said.
“So far 15 rounds of negotiations have been held. The last engagement between both sides was held in May 2013 in New Delhi. Since then, the EU had largely disengaged from the negotiation. However, recently a meeting was held between both sides to take stock,” she said.
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