FDI In Retail: Govt to safeguard industry, consumer interests

New Delhi, Feb 27 (UNI) The Government today assured its commitment to safeguarding the interests of the Indian industry and consumer saying the policy on foreign direct investment (FDI) in retail was being reviewed on a continuing basis.

"Inter-ministerial consultations on policy issues is an ongoing process," Mr Kamal Nath, Union Commerce and Industry Minister said in a written reply in the Lok Sabha.

The policy was comprehensively reviewed in 2006 and the revised policy for FDI was notified. In the trading sector, FDI has been permitted in single brand product retailing.

Besides, change of route for FDI in wholesale/cash and carry and export trading was also notified.

UNI