A Historical Perspective of FDI Policy in India
FDI is an important tool in the economic development of the nation and considered as the spine of an economy, determining its growth trajectory in a big way but India followed a very restrictive FDI in retail policy from 1991 to 2006. India opened the entryway to single brand retailers permitting outside retailers to have up to 51% ownership and six years later i.e. in 2012. Government of India declared total liberalization of the FDI retail policy approach in single brand retailing by allowing 100% FDI in single brand retail. Although the ongoing wave of incessant liberalization and globalization FDI in such frame could be huge challenge and its growth policy itself speak the history of FDI policy. Historically, the current FDI policy growth is an enormous challenge, which is the reason of the present paper. The study offer an outline summary of historical perspective of FDI policy in India with the assistance of knowledge collected from secondary sources. The secondary data has been collected from journals, research paper, newspaper, literature review and websites. In order to make an exploratory research, chosen in order to develop a profound understanding of the research topic and procure knowledge through concerning research objectives from different angles to explain it.