The government has stayed on its decision to allow 51% stake for foreign investors in multi-brand retail in India, reports the Indian Express. The commerce ministry will conduct multiple rounds of consultations with state governments and other concerned ministries before it takes a decision on allowing Foreign Direct Investment (FDI) above 51%. Commerce minister Nirmala Sitharaman’s predecessor Anand Sharma had said that he was in favor of allowing 100% FDI in the e-commerce sector. Yesterday, the government held discussions about issues in FDI with stakeholders like Flipkart, Snapdeal, eBay, Ikea, Amazon, Decathlon and bodies like FICCI, NASSCOM and CII. These included taxation, inclusion of e-commerce within the domestic trade policy framework, definition of e-commerce and level playing field between e-commerce and physical companies with Sitharaman. Manufacturing units can sell through retail and e-commerce The government currently allows up to 100%…
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