No plans to ease retail FDI rules: Govt

Written by Reuters | New Delhi, July 31: | Updated: Jul 31 2008, 21:26pm hrs
India has no plans at the moment to allow foreign companies to take larger stakes in retail sector ventures, Commerce and Industry Minister Kamal Nath said on Thursday.

Single-brand foreign retailers in India are allowed to take up to 51 per cent in a venture with a local firm, while multi-brand retailers are limited to franchise or licence operations.

"There is no plan now to ease (foreign direct investment) norms in retail," Nath said.