New Delhi: The leaders of the Left, the Janata Dal (Secular) and the Samajwadi Party on Sunday wrote to Prime Minister Manmohan Singh regarding FDI in retail.
The leaders are believed to have urged the PM not to open up the retail sector to foreign investment.
Many have argued that FDI in multi-brand retail would further marginalise small-time retailers in the country.
However, economists and experts believe foreign investment in the country would open up a plethora of opportunities and expand employment opportunities.
FDI in retail a reality by August 15
FDI in retail may be a reality by August 15 as the government is working towards building a consensus on the issue. An indication to this effect came on a day when Tata group Chairman Ratan Tata called for an urgent need to push reforms and the Prime Minister's Office (PMO) ordered simpler security clearance for projects and set up a Project Clearance Board under the Cabinet Secretary.
Just days after US President Barack Obama pushed him on reforms, Prime Minister Manmohan Singh has started taking steps to speed up project clearances.
Sources say that the Cabinet is also likely to take up the issue of FDI in domestic airlines. FDI decisions that need only executive approval will be pushed promptly as a part of the reforms process.
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