An Associated Chamber of Commerce and Industry (Assocham) survey shows that the majority of domestic companies are keen on allowing 49% FDI in a calibrated manner in the retail sector, instead of 100% foreign equity.

In a note submitted to the Commerce and Industry Ministry, Assocham has urged the government to first consult the domestic industry before finalising and announcing the entry of international retail giants. In response to an Assocham questionnaire circulated to domestic players, one of the leading retailing firms, which runs value-buying chains throughout the country and is expanding fast, sought two to three years for the domestic industry to consolidate.

According to Assocham, domestic players suffer from infrastructure shortage, the biggest bottleneck being the prohibitive prices of large retail spaces in central locations in major Indian cities. For the complete story, go to www.financialexpress.com

( Hyperlink: http://www.financialexpress.com/fe_full_story.php?content_id=131170 )