New Delhi: Terming the Delhi government's decision to disallow FDI in multi-brand retailing as “abrupt, irresponsible and ill-considered,” Commerce and Industry Minister Anand Sharma today said India is not a banana republic where policy decisions can be reversed.
The ministry, he said, will examine the communication of the newly installed Aam Aadmi Party-led Delhi government on reversing the earlier decision of the state to allow foreign direct investment policy in multi-brand retail trading.
“There is a gazette notification after the (Congress-led) Delhi government approved the policy. It is notified. We are not a banana republic. India has never seen such policy reversals,” he said.
The minister said the decision of the new government, which is in a minority, is “irresponsible, ill-considered, abrupt and arbitrary. It is a regressive decision.
