In view of the continued demand by foreign investors seeking clarifications on various aspects of the foreign direct investment (FDI) policy in various sectors,Commerce and Industry Minister, Anand Sharma on Thursday said Government will come out with a new set of clarifications on the FDI policy.
"...There will be some clarifications on FDI policy. And whatever clarifications will be issued that will be prospective," he told reporters after meeting Finance Minister P Chidambaram here.
The two ministers are believed to have discussed the issue of redefining FDI and foreign institutional investment (FII) to remove ambiguities.
According to sources, the Department of Industrial Policy and Promotion (DIPP) would soon issue clarifications on FDI in multi-brand retail sector.
"In multi-brand retailing, several big retail players have raised questions like what constitutes back-end infrastructure," the source said.
On a question on whether the Commerce and Industry Ministry and the Finance Ministry have differences on defining the word "control", Sharma said: "There is a complete agreement and understanding between the ministries".