'Govt ready to face any challenge on FDI'
"I do not see any situation where enthusiasm of investors would be dampened," he said.
Sharma maintained that the Central government, while taking the decision on FDI, has respected the federal character of India and it has been left to states whether or not to implement it.
"The states which have reservations or are not ready, they are free not to implement. At the same time, big agrarian states which want (FDI in retail), cannot be deprived or denied. That is the position we have made clear," the Commerce Minister said, while noting that 10 states have given in writing that they want it.
He sought to dispel the perception that enough FDI proposals were not coming, saying there was good progress since third week of September when the Union Cabinet decided to remove the "pause" button and go ahead with the decision originally cleared in November last year.
"Proposals are coming. In single brand, 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.
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