The Modi government has said its position on foreign direct investment (FDI) in multi-brand retail trade (MBRT) remained unchanged from what was stated in the BJP manifesto for 2014 general elections. This was indicated by both finance minister Arun Jaitley and commerce and industry minister Nirmala Sitharaman on Thursday in separate press conferences. The manifesto states that “barring the MBRT, FDI will be allowed in sectors wherever needed for job and asset creation, infrastructure and acquisition of niche technology and specialised expertise. BJP is committed to protecting the interest of small and medium retailers, SMEs and those employed by them”.
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