After all, foreign direct investment in multi-brand retail story may not be ended as yet. In order to build fresh consensus and invite more suggestions on the issue, the department of industrial policy and promotion (DIPP) is set to initiate a fresh consultation process regarding the same. The process will begin later this week, official sources told FE.
The move comes after the government had decided to put FDI in multi-brand retail on hold after opposition from various political parties.
?Since the department has to bring on board a fresh consensus in order to allay with the fears of various groups opposing the move, it will start a comprehensive consultation process with all stakeholders soon,? a senior DIPP official told FE. According to DIPP the consultation process will include explanations on the rationale behind the reform. The process will incorporate suggestions from all stakeholders. The process will also see fresh rounds of inter-ministerial consultations, including the ones with food processing, consumer affairs, MSME, etc. DIPP will also engage in consultations with traders, consumers, industry and farmer associations, sources said.
?Various ministries will first have detailed meetings within their ministries and the concerned industries and associations, then they will have series of discussions with DIPP,? the official added.
