Karnataka has joined 11 other states and union territories that have agreed to
allow foreign direct investment (FDI) in multi-brand retail.
There was a change in Karnataka's stand following the the change of government after the recent assembly polls. The previous BJP-led government was against the implementation of FDI in multi-brand retail in the state.
"Karnataka has also
favoured the policy," Department of Industrial Policy and Promotion (DIPP) Secretary Saurabh Chandra said.
Earlier this month, Himachal Pradesh also agreed to allow 51 per cent FDI in multi-brand retail. Maharashtra, Andhra Pradesh, Haryana, Rajasthan and Manipur are among other states that have decided to implement the decision.
The government had permitted FDI up to 51 per cent in
multi-brand retail trading last year. However, it has so far not received any proposal for investment in multi-brand retail.
With inputs from PTI 
PHOTO: Associated Press 
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