major proposals have been cleared. the last FIPB (Foreign Investment Promotion Board meeting) had cleared three major proposals," he said.
Specifically referring to IKEA's proposal, he said it has been "approved by us, now it is with the FIPB." It will meet the parameters of the policy and all the conditionalities.
"The same will happen in multi-brand," he said.
On allegations of corruption involving Walmart, the Minister said, "allegations are allegations. In a rule-based and rule-governed country, if there is any violation there are agencies who are there to look into it."
At the same time, he said there would have been no violations since September when the FDI decision was notified with only one change about dispensation of landlocked states which do not have cities with population of five million.