Karnataka agrees to implement FDI in multi-brand retail

June 26, 2013 15:06

Karnataka has joined 11 other states and union territories that have agreed to allow foreign direct investment (FDI) in multi-brand retail. There was a change in Karnataka's stand following the the change of government there after the recent assembly polls. The previous BJP-led government was against the implementation of FDI in multi-brand retail in the state. The government had permitted FDI up to 51 per cent in multi-brand retail trading last year.

Earlier this month, Himachal Pradesh also agreed to allow 51 per cent FDI in multi-brand retail. Maharashtra, Andhra Pradesh, Haryana, Rajasthan and Manipur are among other states that have decided to implement the decision.

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