Independent body for retail sector

The central government is thinking of forming an independent body to regulate the country’s big retail sector.  In order to give fair platform to its indigenous retailers before it opens the sector to more foreign participation, the Ministry of Consumer Affairs and Food has called a meeting on July 8, 2010 in Delhi. The meeting is also likely to take up, for discussion, a proposal to enact a National Shopping Mall Regulation Act.

Looking at the current scene, India does not permit the foreign direct investment in multi-brand retail; up to 51 per cent is allowed in single brand retail and 100 per cent in wholesale cash-and-carry trade.

The meeting is also concerned to set up a national commission to solve the problems of the retail sector.