Business
U.S. Senator Upset Over Delay in FDI in Indian Retail
  • PTI

  • Jan 19, 2012
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U.S. Senator Mark R. Warner (l) shares a light moment with Rep. Joe Crowley (c), N.Y., during a visit to a school in New Delhi Jan. 9. Warner, co-chairman of the U.S. Senate's India Caucus, who along with a five-member delegation visited India from Jan. 7- 14, attended a National Basketball Association sponsored camp to promote basketball in India. (Getty Images)
  • HYDERABAD, India

    Influential senator and co-chair of the Senate's India Caucus Mark R. Warner Jan. 12 expressed his disappointment over the delay in India allowing foreign investment in multi-brand retail.

    "I am seriously concerned about delay in implementation of FDI in multi-brand retail," he said at the CII Partnership Summit 2012 here.

    His comments come within days of U.S. Trade Representative Ron Kirk postponing his visit to New Delhi, perceived to be conveying the United States’ displeasure at India going slow in giving market access to American companies in areas like retail, insurance and banking.

    Warner, from Virginia, is leading a Congressional delegation to India and meeting top government and business leaders in New Delhi, Jaipur, Hyderabad and Kolkata. The team is exploring opportunities to expand ties in areas of trade and defense between the two countries.

    Bowing to intense from opposition parties and its own ally Trinamool Congress, the Indian Government suspended its decision to allow 51 percent foreign direct investment in multi-brand retail.

    However, it has re-launched efforts to achieve consensus among different stakeholders on the politically sensitive issue.

     

     

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