The Opposition in the Rajya Sabha on Wednesday vociferously opposed any move to allow Foreign Direct Investment in general retail trade and demanded a full discussion on the issue.
The matter cropped during Question Hour when commerce minister Kamal Nath said the Centre has allowed FDI up to 51 per cent with prior government approval in the retail trade of Single Brand products.
The minister sought to allay Opposition's concerns that the domestic retail trade would be affected saying there was no FDI in general retail trade.
He said the concern was being studied and so far no decision has been taken in allowing FDI in general retail trade.
However, opposition BJP and JD(U) members were joined by members from Left parties and Samajwadi Party
in expressing serious concern over the issue and a strong demand was made by them for a full debate on the subject.
When the minister said there could be a debate on the matter, chairman Bhairon Singh Shekhawat assured the agitated members that he would arrange a discussion during the ongoing session itself.
Earlier, Nath said there were three conditions for allowing FDI -- the products to be sold should be of a 'Single Brand' only, sold under the same brand internationally and that Single Brand product retailing would cover only products which are branded during manufacturing.
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