Interim Budget 2024: India's economic growth relies heavily on the retail sector, which contributes over 10% to the country's GDP. However, the government has been hesitant to open up multi-brand retail trade (MBRT) to foreign direct investment (FDI). While 51% FDI in MBRT is allowed under approval route, obtaining such approval can be challenging. Opposition to liberalizing FDI in MBRT stems from concerns about crowding out domestic retailers, harming small traders, and leading to job losses. Read The Rest at :
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