Govt seeks feedback from traders in bid to fast-track retail FDI

To Fast-Track the implementation of foreign direct investment (FDI) in retail, the Delhi government has recently sent a draft notification to trade associations in the city for their comments and suggestions.

If all goes well, senior ministers on Monday said FDI would be discussed at length at the Delhi Cabinet meeting on October 29.

At a meeting held a few days ago with associations representing traders in Delhi, the notification was circulated for feedback on FDI.

"The draft has been given to traders and all agricultural produce marketing committees (AMPC) in Delhi for their suggestions on FDI and we hope to have their inputs this week. If all goes well, it will come up in the next Cabinet meeting," a Delhi minister said.

The minister said the government wanted to incorporate the views of traders, supermarkets and provision store owners.

"We have to keep in mind the situation for all those concerned with FDI so there is no confusion later. We have to safeguard everybody," he said.

Senior Congress leaders said they would try to ensure that Delhi "becomes the first to implement FDI in retail". "Though implementation would require an amendment to the APMC Act, we want to discuss the issue in the Cabinet before the party rally planned in support of FDI on November 4 in Ramlila Maidan in which Prime Minister Manmohan Singh and AICC president Sonia Gandhi are expected to speak," one of the leaders said.

B B Gupta, national vice-president of the All India Vaish Federation, said several associations had already met government officials. "We are now discussing the issue among the trading community because FDI in retail will change the future of business in Delhi. Our meetings will resume after Diwali and we will submit our feedback to the government by the end of the week," Gupta said.

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