FDI in multi-brand retail is a move in the positive direction: DTZ India

DTZ India chief executive Anshul Jain feels that union government's move allowing 51 % foreign direct investment in multi-brand retail is a step in the positive direction.

"It remains to be seen how the various state governments react to it and how many states agree to open their markets to retail FDI. If implemented well in some progressive states, we will probably see a gradual implementation across the country over three-to-five years. Like everything in our democracy, the total transformation and benefits of this move will be seen only in the medium term - nevertheless the move shows government's willingness to find solutions or right policies in face of political opposition which can only be good news for the economy,"" Jain added.