New Delhi, May 24, (KNN) Government will soon issue clarification on its Foreign Direct Investment (FDI) policy relating to investment in multi brand retail and other issues like ownership and control of foreign investors in the Indian entities.

The clarification could also be on mandatory 30 per cent sourcing from local industries, as was prescribed in the notification which allowed 51 per cent FDI in multi brand retail.

However the global retailers like Tesco and Walmart have expressed concerns over the requirement on the 30 per cent sourcing.

The confusion over ownership and control will also be cleared.

In this regard Commerce and Industry Minister Anand Sharma has met Finance Minister P Chidambaram and said whatever changes are made in policy will be implemented prospectively and not retrospectively. (KNN)