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Indian govt may issue some clarifications on FDI policy
25 May '13
1 min read
The Government of India is soon likely to issue some clarifications on its foreign direct investment (FDI) policy, which will come into effect “prospectively”, Commerce and Industry and Textiles Minister Anand Sharma told media after his meeting with Finance Minister P Chidambaram.
The clarifications from the Government are expected to be a response to several global multi-brand retailers seeking more clarity on a number of issues related to the FDI, especially on mandatory sourcing of inputs and what constitutes back-end infrastructure.
Walmart, Tesco and Carrefour are among the global brands that have sought some clarifications from the Government to enable them to take decision regarding their India entry.
As a result of the meeting between Mr. Sharma and Mr. Chidambaram, the Department of Industrial Policy and Promotion (DIPP) is soon likely to come out with some clarifications to remove ambiguities on FDI in India’s multi-brand sector.
Fibre2fashion News Desk - India
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