ENA Economy 2018-12-13 09:42:00 <p><strong>New Delhi, Dec 13 (KNN) </strong>To change the existing foreign direct investment (FDI) policy in the multi-brand retail trading sector, Department of Industrial Policy and Promotion (DIPP) Ramesh Abhishek said that there is no such proposal to change this.</p> <p>Replying to a question whether the government is looking at increasing FDI cap to 100 per cent in the sector, a politically sensitive segment at CII's conference on 'MNCs and India: Creating Mutual Value', Abhishek said You know the multi-brand retail policy that exists today. There is no proposal for change.</p> <p>Speaking on the occasion, Abhishek said that the USD 650 billion retail sector is growing fast and that it holds huge potential for businesses. </p> <p> Organized retail is only 10 per cent (of this figure) and out of that e-commerce is only 3 per cent. I think there is a tremendous scope for growth in e-commerce and organized retail, he added.</p> <p>With growing middle class and increasing incomes, the retail sector is set for a massive revolution, Abhishek pointed.</p> <p>Further, the secretary asked the industry to provide convincing arguments and detailed analysis while recommending some policy changes. </p> 21533 https://knnindia.co.in/news/newsdetails/economy/govt-has-no-proposal-to-change-fdi-policy-in-multi-brand-retail-trading-sector-dipp-sec 2018-12-13 09:42:00 knnindia.co.in