FDI Policy in India: With Special Reference to the Multi-Brand Retail FDI Policy

Published date01 March 2022
Date01 March 2022
Subject MatterArticles
FDI Policy in India:
With Special Reference
to the Multi-Brand
Retail FDI Policy
Paromita Chakraborty1
This article attempts to trace the FDI policy in India from India’s Independence
till the economic liberalisation in 1991 and onwards. It highlights how different
regimes approached the FDI policy in India, from ‘hostility’ to ‘accommodation’
to ‘collaboration’. The article then looks at the multi-brand retail FDI policy
which was recently introduced in India. This policy was one of the hallmarks of
the United Progressive Alliance (UPA II) regime and marked a significant push
towards a more extensive economic reforms programme. It clearly stated that
if this policy is operationalised, it will result in a big boost in investments in
our country. However, most of the Indian states, the Left parties and various
regional parties opposed the introduction of FDI in the multi-brand retail sector.
They stated that this policy would harm the Indian economy in the long
run. The article also focuses on two important stakeholders of this policy, namely
the farming sector and the unorganised retailers. It looks at the advantages and
the disadvantages of the multi-brand retail FDI policy on these two sectors along
with their responses.
Foreign direct investment, multi-brand retail policy, farmers, unorganised
This article focuses on the Foreign Direct Investment (FDI) policy pursued by
India in the pre-reform and the post-reform period to understand the evolution of
Indian Journal of Public
68(1) 48–61, 2022
© 2022 IIPA
Reprints and permissions:
DOI: 10.1177/00195561211058442
1 Surendranath College, Kolkata, West Bengal, India.
Corresponding author:
Paromita Chakraborty, Assistant Professor, Political Science, Surendranath College, Kolkata,
West Bengal, India.
E-mail: paromita.jnu@gmail.com

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