FDI in Retails Still a Priority: Govt(I THINK FDI/OUTSOURCING SHOULD BE PREFREBLY RESTRICTED TILL TECHNICAL/MACHINERIES MOSTLY!!ITS MY SUGGESTIONS OR POINT OF VIEW!!...VT)
December 23, 2011 4:27 AM EST
India's plan to give foreign supermarkets access to its retail industry is still a government priority and has not been shelved, Finance Minister Pranab Mukherjee said on Friday, weeks after the government was forced to backtrack on the reform.
Mukherjee said the delayed policy was "very much on the government's mind" and officials were now working for a consensus on foreign direct investment plans including in supermarkets and a delayed pensions bill.
Struggling with a rapidly weakening rupee and a growing current account deficit, India is looking for new ways to attract foreign investors to Asia's third largest economy.
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