Himachal Pradesh agrees to implement FDI in multi-brand retail

NEW DELHI: Himachal Pradesh has joined 10 other states and union territories which have agreed to allow foreign direct investment ( FDI) in multi-brand retail, the government said today.

"The government of Himachal Pradesh has given its consent to implement the multi-brand retail trading in Himachal Pradesh," the Department of Industrial Policy and Promotion (DIPP), under the Commerce and Industry Ministry, said in a Press Note here.

There was a change in the stance of the state with the Congress returning to power in the hilly state about six months back. The previous BJP-led government was against the implementation of FDI in multi-brand retail in the state.

The government had permitted FDI up to 51 per cent in the multi-brand retail trading last year.

So far only 10 states had agreed to implement the decision. States including Maharashtra, Andhra Pradesh, Haryana, Rajasthan and Manipur have endorsed the Centre's decision to allow FDI in multi-brand retail.

However, the government has not received any proposal for investment in multi-brand retail.