Supreme Court of India upheld 51 Percent FDI in Multi-brand Retail
The Supreme Court of India on 1 May 2013 upheld the constitutional validity of 51 percent FDI in the multi-brand retail sector.
The Supreme Court of India on 1 May 2013 upheld the constitutional validity of Government’s decision allowing 51 percent foreign direct Investment in the multi-brand retail sector. A bench of Justices R M Lodha, Madan B Lokur and Kurian Joseph gave the ruling.
The bench observed that there was no harm in giving the policy a chance. It saw merit in the policy that it would eliminate middlemen and help provide farmers a better price for their produce. It dismissed the petition filed against the 51 percent FDI in multi-brand retail. As per the court, the policy will affect the lives of only 13.3% of the country's population living in 53 cities.