The Union government is working vigorously to smooth out all those issues which may create barriers in the implementation of Foreign Direct Investment (FDI) in retail before the end of current budget session.
Recently, the Union government has convened series of meetings with the Union Agriculture Ministry to give finishing touch to the process as FDI in retail sector is in the advanced stages of implementation.
In order to permit FDI in retail segment, the government of India has to first amend the Agricultural Produce Marketing Committee (APMC) Act to allow the opening of private markets for farmers to sell their produce.
Reportedly, if the APMC Act is not amended or repealed before the end of current budget session, then the central government would have to postpone the process till monsoon session begins.
Delhi CM Sheila Dikshit said,” Delhi has always been a great trading city and we fully support the Government of India’s decision concerning FDI. We have studied the benefits of FDI and it shows farmers and traders are doing well,"
On the other hand, the opposition BJP and trader organisations in the capital have strongly opposed FDI in retail sector.
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