Decision on FDI in retail & civil aviation soon, says Anand Sharma

Decision on FDI in retail & civil aviation soon, says Anand SharmaIndian Government may soon announce decision on FDI in multi-brand retail & civil aviation as consultations are already over, Commerce & industry minister Anand Sharma said.

After the fourth government-industry task-force meet on Thursday, Mr. Sharma said that all announcements related to FDI in retail and aviation would be made in one go.

The minister admitted that there are some concerns that some decisions have got delayed.

Speaking on the topic, the minister added, "The government will take an appropriate and correct view which is in the interest of India's economic growth and development -- hopefully soon."

Previously, the government deferred its decision to allow 51 per cent FDI in multi-brand retail following harsh protests by some allies in the coalition government. A decision on 49 per cent FDI in aviation was also stuck due to opposition from Trinamool Congress.

Industry representatives are demanding quick action, as they are concerned that things have hit a crisis point. India suffered a contraction of 1.8 per cent in industrial growth in June, while gross domestic product (GDP) growth slipped to a 9-year low of 6.5 per cent in 2011-12.

The government is widely expected to unveil a comprehensive package in the second week of September after the ongoing Parliament session ends.