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

Apparel/Garments | On 29th May 2017

Christopher & Banks Corporation Q1 2017 sales down 11.5%

The net sales of Christopher & Banks Corporation for the first...

Apparel/Garments | On 28th May 2017

Over 45% US retailers to use AI in next 3 years: Report

Over 45 per cent retailers in the US plan to utilise artificial...

Neelesh Hundekari speaking at the event. Courtesy: Subir Ghosh

Textiles | On 27th May 2017

Fabric of Change initiative announces €250000 scaling fund

The Fabric of Change initiative of Ashoka and the C&A Foundation is...

Interviews View All

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Priyanka
Studio Priyanka Rajiv

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

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Eric Scholler
Groz-Beckert

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

Igor Chapurin
Chapurin

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

Sonam & Paras Modi
SVA

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

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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

news category


Related Categories:
May 2017

May 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