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'Govt not reviewing FDI policy in multi-brand retail'
11 Apr '17
1 min read
The Indian government does not currently have any proposal under its consideration to review the foreign direct investment (FDI) policy in the multi-brand retail sector. At present, the government permits foreign investors to hold a maximum of 51 per cent stake in an Indian retail company. However, 100 per cent stake is allowed in single-brand retail sector.
“No proposal is under consideration of the government to review the extant FDI policy on multi-brand retail,” commerce and industry minister Nirmala Sitharaman said in a written reply to the Lok Sabha.
Under the existing policy for FDI in multi-brand retailing, so far, only one company—Tesco, has received the government’s nod for opening stores in the country. (RKS)
Fibre2Fashion News Desk – India
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