Home / Knowledge / News / Apparel/Garments / States can put additional condition for FDI: Indian govt
States can put additional condition for FDI: Indian govt
12
Jun '13
The Indian Government has made it clear that states can impose additional condition on an investor willing to invest in the state through foreign direct investment (FDI) route in multi-brand retail trading (MBRT).
 
“FDI policy in MBRT is subject to the applicable State/Union Territory laws/ regulations. The state governments have the prerogative of imposing additional conditions accordingly,” the Ministry of Commerce and Industry said in a statement.
 
The statement answers the query whether the state government can put additional conditions on a foreign investor willing to set up a retail store in that state.
 
The statement says the Central Government has already notified the names of states that have opted for inclusion in the FDI Policy. It adds that any amendment in the policy falls under the domain of the Central Government, but state laws/regulations will apply.
 
It further clarifies that in case a foreign investor approaches a state government not included in the list of states supporting FDI in MBRT, consent from the state government would be sufficient, and a suitable amendment to the policy will be issued by the Central Government.
 
The current FDI Policy allows foreign retailers to operate only in cities with population of more than 1 million. For this purpose, the statement clarifies that Census 2011 data is the most authoritative source of population data, which is accepted by all the states, and no other data source or self-certification can be permissible.
 

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 22nd Apr 2017

Strong rupee & weak trade to affect textile exporters

Textile and apparel exporters' earnings and EBITDA margins will be...

Textiles | On 22nd Apr 2017

Myntra acquires InLogg

With an aim to strengthen supply chain and logistics, Flipkart-owned...

Textiles | On 22nd Apr 2017

Aditya Birla Group launches new variant Liva Crème

After its successful launch of high quality fabric Liva in 2015,...

Interviews View All

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Paolo Ocleppo
Sandvik Hyperion

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

Larry L Kinn
Suominen Corporation

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

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Karan Arora
Karan Arora

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

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

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
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


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