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

Apparel/Garments | On 21st Oct 2016

China’s garment retail sales grow 7.2% in Jan-Sept ’16

Retail sales of garments, footwear, hats and knitwear of Chinese...

Mike Preston, executive director of the Arkansas Economic Development Commission (AEDC), signing MoU with Tang from Suzhou Tianyuan Garments company. Courtesy: Government of Arkansas

Apparel/Garments | On 21st Oct 2016

Suzhou Tianyuan to open $20 mn garment factory in US

Suzhou Tianyuan Garments company, a Chinese manufacturer of casual...

Textiles | On 21st Oct 2016

Pakistan’s textile exports fall 5.96% y-o-y in Q1 FY17

The value of textile and garment exports made by Pakistan decreased...

Interviews View All

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Silke Brand-Kirsch
Schlegel und Partner

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

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Sonam & Paras Modi

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Pranav Mishra

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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

October 2016

October 2016

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


Browse Our Archives


Advanced Search