The government will review the foreign direct investment policy later this week, but investments in retail sector are unlikely to be part of the revision.
"Apart from the FDI review, the Comprehensive Economic Cooperation Agreement with Singapore is also listed for approval of the Cabinet, which will meet this Thursday," Commerce and Industry Minister Kamal Nath told reporters in New Delhi on Monday.
The CECA was signed by India and Singapore in June 2005. The two countries had reviewed the agreement in October.
Earlier, Nath had said the review of
FDI policy was aimed at streamlining investment procedures in a comprehensive way, giving preference to sectors that generate more economic activity and jobs.
The FDI policy review may include liberalising foreign investments in sectors such as aircraft maintenance, commodity exchanges, petroleum products and real estate, Nath had said, adding that retail would not be a part of it.
At present, New Delhi allows 100 per cent FDI in wholesale cash-and-carry business and 51 per cent FDI in single-brand retail. Multi-brand retailers can, however, set up shop through the franchise route.