It has been reported that French minister of economy and finance Christine Lagarde has asked India to liberalise its retail and insurance sectors further.
She discussed the concerned topic with commerce and industry minister Anand Sharma to allow routes for further trade. Ms Lagarde shared the experience of the retail sector in France , and said that a regulatory framework was in place so that farmers interest is protected. Mr Sharma said that policy formulation in a democracy is a calibrated procedure and feedback after consultations with the stakeholders have been very useful.
At present India allows 51% FDI in the single brand retail and no FDI in multi-brand retail. Ms Lagarde is part of French President Nicolas Sarkozy's delegation.