After Delhi, Rajasthan became 2nd state to withdraw approval for FDI in multi-brand retail

Rajasthan scrapped the approval given by the previous Congress government for Foreign Direct Investment (FDI) in multi-brand retailing. After Delhi, Rajasthan became the second state, to withdraw approval for FDI in multi-brand retail following a change of government after the assembly elections held in November-December.

Recently, the Aam Admi Party Government in Delhi had repealed the decision to allow FDI in retail and told the Centre that it would not allow foreign supermarkets in the Capital as they would destroy the local markets and close down neighbourhood shops and kirana stores.

Note: The states that allow global retailers to open supermarket chains (mostly Congress-led) viz. Himachal Pradesh, Andhra Pradesh, Maharashtra, Haryana, Rajasthan, Manipur, Karnataka, etc.

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Categories: Business & Economy Current Affairs 2017

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