Home / Knowledge / News / Apparel/Garments / Indian govt may further relax FDI rules in MBRT: Minister
Indian govt may further relax FDI rules in MBRT: Minister
17
Jun '13
Mr. Anand Sharma
Mr. Anand Sharma
The Government of India may further relax or simplify guidelines for foreign direct investment (FDI) in multi-brand retail trading (MBRT), Minister of Commerce and Industry and Textiles, Anand Sharma, has said.
 
The Indian Government opened doors for multi-brand retailers around nine months ago, allowing 51 percent investment through FDI route, but the policy has not received expected response from foreign retailers, who have so far stayed away. 
 
Last week, the Government issued some clarifications related to 30 percent sourcing and back-end infrastructure, but these too failed to generate any positive response from foreign retailers.
 
If the foreign retailers have any other issues in mind, the Indian Government is receptive and it would further bring clarity to the guidelines, because the objective of the policy is to attract FDI, Mr. Anand Sharma told reporters.
 
He was speaking to media a day before leaving on a 10-day trip to Helsinki, St Petersburg, Belfast and London, where he is scheduled to address investors.
 
Mr. Sharma said, on his return, he would be chairing a Retail Round Table on June 27, which would involve participation of CEOs of Indian companies as well as foreign investors. The Round Table would seek views of the participants on issues related to implementation of the FDI Policy and address their concerns, if any.
 
The Minister said that any proposal received by the Government for FDI in MDRT would be fast-tracked.
 

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Nanollose

Textiles | On 24th May 2018

Nanollose develops fabric from coconuts

Australian technology company Nanollose has developed a sustainable...

Courtesy: Invista

Textiles | On 24th May 2018

Invista moves ahead with Texas technology upgrade project

Invista, a leader in chemical intermediates and fibres, is at the...

Global cotton consumption to reach record in 2018-19: USDA

Textiles | On 24th May 2018

Global cotton consumption to reach record in 2018-19: USDA

Reflecting continued growth in the global economy, world cotton mill...

Interviews View All

Headhonchos
Indian fashion industry

Cotton consumption will keep growing in the Indian fashion industry

Top executives
Textile & apparel bodies

The decision to reduce GST on MMF yarn to 12% is transformational

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Paolo Crespi

For.Tex is an Italy-based leading producer of dyes and thickeners, and is...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Paolo Ocleppo
Sandvik Hyperion

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

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Silvia Venturini Fendi
Fendi s.r.l

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

Prathyusha Garimella
Prathyusha Garimella

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

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

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

Leave your Comments


May 2018

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

news category


Related Categories:

Advanced Search