INDIA is planning to lift its cap on FDI on retail

The government is proposing to lift the cap on foreign direct investment (FDI) in local supermarkets. A meeting led by Prime Minister Narendra Modi may decide on proposal to allow 100% FDI by foreign retailers such as WalMart Stores.

The current FDI policy permits overseas companies to own a stake of up to 51% in an Indian multi brand retail company.