Foreign companies will not be given permission of having multi-brand retail business

New Delhi: The government has again made it clear that foreign companies will not be allowed to have multi-brand retail in the country. Union Commerce and Industry Minister Piyush Goyal made this assurance in a meeting with a delegation of small businessmen here.

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"India will not allow multi-brand retail to foreign companies and no entry will be allowed for Maldi brand retail under the pretext of 'B-to-B'," Goyal said. The Commerce Minister assured the delegates attending the meeting that all their points will be considered positively. He stressed that prices of goods and services will not be allowed at the grassroots level and action will be taken against the violators.

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At the same time, he said, the government will provide all kinds of support and assistance to small and retail traders to expand their business. Representatives of grocery stores, merchants and associations of retailers were present at the meeting. Minister of State for Commerce and Industry was also present on the occasion.




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