No plans to constitute a retail regulatory authority: S Jagathrakshakan

NEW DELHI: The government today said it has no plans to constitute a retail regulatory authority.

On whether government proposes to constitute a Retail Regulatory Authority ( RRA), Minister of State for Commerce and Industry S Jagathrakshakan said in a written reply to the Rajya Sabha that there was no such move.

He said the department related parliamentary Standing Committee on Commerce has recommended the constitution of a RRA, in its 19th report on foreign and domestic investment in retail sector, to look into the problems and to act as a whistle blower, in case on anti-competitive behaviour and abuse of dominance.

The government has allowed 51 per cent FDI in multi-brand retail, while hiking the foreign direct investment cap to 100 per cent in single-brand retail.