Home / Knowledge / News / Apparel/Garments / India still open for FDI in multi-brand retail: Minister
India still open for FDI in multi-brand retail: Minister
09
Apr '12
In spite of several reservations on the issue, the Congress-led UPA Government has rejuvenated its efforts to create a consensus on allowing foreign direct investment (FDI) in about US$ 550 billion multi-brand retail market in India.

The Department of Industrial Policy and Promotion (DIPP) is again holding consultations with all stakeholders, including consumer associations and farmers, to arrive at a strong consensus on the matter, Commerce and Industry Minister Anand Sharma said.

The Minister said though some states have reservations for FDI in retail, there are some others that actually want it.

He hoped that soon a consensus would be reached on allowing entry of foreign investors in India's multi-brand retail, so that states eager to allow the same may opt for it.

While expressing optimism that a consensus could soon be reached over the issue, he said it would be wrong to equate consensus with unanimity.

On November 24, 2011, the Central Government was forced to take back its decision of allowing 51 percent FDI in multi-brand retail, following opposition from several state governments and its own allies. The Minister said the suspension was just a pause in the decision-making process.

The opening of FDI in India's multi-brand retail would enable several global giants like Wal-Mart, Carrefour and Tesco, to open their supermarket chains in India. These firms are currently only allowed to own 100 percent of back-end cash-and-carry operations for supplying to wholesalers.

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 19th Aug 2017

New fabric interfaces to interact with computers

As computer capabilities evolve, new fabric-based interfaces are...

Textiles | On 19th Aug 2017

Brazilian cotton prices drop in first fortnight of August

Cotton prices dropped in the Brazilian market in the first fortnight...

Apparel/Garments | On 19th Aug 2017

Target to acquire Grand Junction for faster deliveries

Target Corporation has announced that it has agreed to acquire Grand...

Interviews View All

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

August 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
66.7%
No
16.7%
Skip
16.7%

Total Votes: 30

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
43.3%
No
36.7%
Skip
20.0%

Total Votes: 30

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
83.3%
No
6.7%
Skip
10.0%

Total Votes: 30

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
60.0%
No
10.0%
Skip
30.0%

Total Votes: 30


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search