Home / Knowledge / News / Apparel/Garments / Karnataka govt not to allow FDI in multi-brand retail
Karnataka govt not to allow FDI in multi-brand retail
Sep '12
The southern Indian state of Karnataka would not allow foreign direct investment (FDI) in the state, Agriculture Marketing Minister SK Bellubbi told reporters.
The Minister said the state government has decided to not to allow FDI in multi-brand retail as it would go against the interests of farmers and small traders.
He added that the Central Government’s decision to allow up to 51 percent FDI in multi-brand retail would lead to job loss for several people. He said the Centre’s decision is similar to the entry of erstwhile East India Company.
The Minister said the policy of allowing foreign investment in retail sector will benefit only a small section of people and not the vast majority.
Meanwhile, the Indian Government has issued a notification bringing the 51 percent FDI cap in multi-brand retail into effect.
The policy has already come into effect in 10 states and union territories that have agreed to implement the Government’s decision.
Along with Karnataka, states like Madhya Pradesh and Gujarat, which are also ruled by the main opposition Bharatiya Janata Party (BJP), have opposed the Cemtre’s decision terming it as anti-poor.
As per the policy framed by the Union Government, consent of the respective state governments is necessary for allowing foreign companies to invest in multi-brand retail trading.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Textiles | On 25th Mar 2017

MEGlobal to build first ever US MEG plant

Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...

Courtesy: Ulster Carpet

Textiles | On 25th Mar 2017

Ulster Carpets acquires Griffith Textile Machines

Northern Ireland based manufacturer of carpets, Ulster Carpets said...

Interviews View All

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Rahuul Jashnani

‘Online economy has changed the whole dynamics of buying habits.’

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Igor Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

March 2017

March 2017

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


Browse Our Archives


Subscribe today and get the latest News update in your mail box.
Advanced Search