The government's decision to allow 51 per cent foreign direct investment (FDI) in single-brand retailing has been largely welcomed by the industry in spite of the general feeling that those that might enter would largely be the luxury brands and that this move would not significantly impact the sector. According to Mr. Narasimhan,Head, Research, Cris Infac, the sectoral growth is strong and is being spurred by domestic players and international players and will further accelerate. "The FDI announcement is a move that signals that the government is open to FDI in retail but anyway, we do not see any significant step towards allowing further FDI in the retail sector this calendar year."