Commerce and Industry Minister Anand Sharma, on Tuesday, said that he would convene a meeting of top CEOs of global retail chains to sort out the issues pertaining to certain grey areas in the multi-brand retail policy.
“We will certainly come out with clarifications as they feel that there are certain grey areas in the multi-brand policy . We will approach the Cabinet on the issue . I will be discussing important issues with the top CEOs of global retail chains in New Delhi on June 27, and then do the needful,” Mr. Sharma said here.
Mr. Sharma also informed the U.K. government officials that India was keen on investment in the multi-brand retail sector and looked forward to their participation. “It is understood that TESCO has indicated that it was ready to take the plunge into Indian market along with another grocery retail chain, Sainsbury, after certain policy clarifications are made,” a senior official here said.
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Indian representatives of Walmart, Tesco, Carrefour, Metro, Costco, French hypermarket major Auchan and CEOs of Indian retail majors such as Aditya Birla Group, the Tatas, Reliance, Rahejas, Pantaloon and the RPG Group are likely to take part in the meeting.