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The government on Tuesday took the first step towards opening up the multi-brand retail sector for foreign direct investment (FDI) by releasing a discussion paper on the issue. The department of industrial policy and promotion (DIPP) under the commerce ministry is seeking comments on putting FDI cap in multi-brand retail, which is currently banned. The paper however remains silent on the quantum of FDI cap even after the draft paper had proposed 51% FDI in multi-brand retail.
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