There will be no change in policy on multi-brand retailing: Goyal in US

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Quick Summary:

Union Minister of Commerce and Industry Piyush Goyal on Thursday categorically ruled out the entry of multi-brand retailing in India as such a move would destroy pop-and-mom stores like that of the US.

Or we can go to Parliament and change it also, not a problem, though I do not think any of these requires parliamentary changes," Goyal said in response to a question at the Centre for Strategic and International Studies think-tank here.

"If the need arises, we can re-look at any of these (policies) or the government has the authority through cabinet approval to allow greater percentages (of foreign stakes in various sectors).