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Cabinet may consider FDI in multi-brand retail today
The Cabinet of India is scheduled for discussing 51% Foreign Direct Investment
(FDI) in multi-brand retail. According to reports, the nod for the same may come
with conditions, including local sourcing of products. Currently, the government
allows 51% FDI in single brand retail and 100% in cash and carry (wholesale)
business. The finance ministry has reportedly given its consent to the draft cabinet
note on multi-brand retail to foreign investment. The high level of committee of
secretaries (CoS) also, in earlier discussions, met on a consensus over the proposal
sector with several conditions, including minimum foreign investment of
US$100mn.
However, the proposal has long before attracted political uproar – opposition
parties are strictly opposed to this as rippling effects would include huge
unemployment as well as displacement of small and mid-scale retailers. Investors
will closely track the progressive developments in today’s discussion, which is likely
to witness a positive vibe in the retail sector.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Cabinet may consider FDI in multi-brand retail today
The Cabinet of India is scheduled for discussing 51% Foreign Direct Investment
(FDI) in multi-brand retail. According to reports, the nod for the same may come
with conditions, including local sourcing of products. Currently, the government
allows 51% FDI in single brand retail and 100% in cash and carry (wholesale)
business. The finance ministry has reportedly given its consent to the draft cabinet
note on multi-brand retail to foreign investment. The high level of committee of
secretaries (CoS) also, in earlier discussions, met on a consensus over the proposal
sector with several conditions, including minimum foreign investment of
US$100mn.
However, the proposal has long before attracted political uproar – opposition
parties are strictly opposed to this as rippling effects would include huge
unemployment as well as displacement of small and mid-scale retailers. Investors
will closely track the progressive developments in today’s discussion, which is likely
to witness a positive vibe in the retail sector.
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