FDI in multi-brand retail: German envoy for India resolving issue


New Delhi: German Charge d’Affaires Cord Meier-Klodt Thursday expressed the hope that Indian government and other stakeholders are able to resolve the row over 51 percent foreign direct investment (FDI) in multi-brand retail.

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He said from his personal point of view, as a representative of a nation that believes in an open and well-regulated market, healthy competition was “best” for the citizens of a country.

“That (decision) is with the government. As you understand, I do not want to comment on that (suspension of the FDI decision). Let me just say something personal, from the point of view of a representative of a nation that has always believed that an open and well regulated market, that healthy competition is best for the citizens of the country…simple people like you and me,” Meier-Klodt said when asked for his views on the Indian government suspending its decision to allow FDI in multi-brand retail.

“That’s what I believe…that the Indian government, together with all the partners — be it in the political framework or beyond in society, who see it very similarly to us — will come up with a good solution at the end of the day,” he added.

The cabinet had a fortnight ago approved a commerce ministry proposal to allow 51 percent FDI in multi-brand retail and 100 percent FDI in single-brand retail. But the repeated disruption of parliament by opposition parties and pressure from allies of the United Progressive Alliance such as Trinamool Congress and DMK, led to the suspension of the decision, leading to the smooth functioning of parliament Wednesday after nine days of no work.