The Economic Survey 2010-11 has favoured phased opening of foreign direct investment (FDI) in multi-brand retail to address the concerns of consumers, farmers and declining FDI inflows.
According to the Survey, projects worth Rs. 24,143 crore are expected to be completed adding a capacity of 168.60 lakh sq. ft.
Globally, FDI in retail is permitted in countries such as Brazil, Argentina, Singapore, Indonesia, China and Thailand without any limit on equity participation, while Malaysia has equity caps.
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