Foreign direct investment in retail, put off by the Centre last year at the behest of West Bengal Chief Minister Mamata Banerjee, is expected to come up for discussion at the meeting between US Secretary of State Hillary Clinton and Banerjee chief tomorrow.
Last December, the central government decided to suspend a decision on 51 per cent foreign direct investment in multi-brand retail after Banerjee upped the ante after the decision of the Cabinet in its favour. State government officials, however, believe even if Clinton raises the issue, it is likely to cut no ice with the chief minister. The Trinamool Congress, the second largest ally in the United Progressive Alliance, is known to be against FDI in retail. In fact, it is the party’s electoral pledge.
Clinton, who has come to Kolkata straight after her visit to Bangladesh, is also expected to touch upon the Teesta Water Treaty between India and Bangladesh, which again is in abeyance as Banerjee is opposed to it.
The West Bengal government, on its part, is likely to root for US investments in the state. In the last one year since Banerjee’s government took charge, there has hardly been any fresh investment proposal. “Much of the Rs 80,000-crore investment proposals the government had claimed to have garnered in the first eight months were from the earlier regime,” officials said.
The meeting between Clinton and Banerjee is slated to be held in the first half tomorrow, at the Writers' Building. The state secretariat has not only got a facelift for the meeting, but has also gone through some unprecedented security arrangements.
Finance Minister Amit Mitra and Commerce and Industry Minister Partha Chatterjee are likely to be present during tomorrow’s meeting. Clinton, who landed in Kolkata this afternoon, made a visit to the Victoria Memorial and attended an event at the Indian Council for Cultural Relations.