The NDA Government will not entertain foreign direct investment in multi-brand retail, Commerce and Industry Minister Nirmala Sitharaman told the Rajya Sabha on Wednesday.
Answering supplementaries during Question Hour, she said the BJP had got a massive mandate on the basis of its election manifesto, which opposes FDI in multi-brand retail. However, the government has not initiated any move to scrap the policy of allowing FDI in multi-brand retail approved by the previous UPA government, she said. The FDI flows have not been consistent in the past few years, she said, adding that they decreased by 26.33 per cent in 2012-13 and increased by 6.12 per cent in 2013-14.
