Home / Knowledge / News / Apparel/Garments / Retailers want assurance on continuation of FDI Policy
Retailers want assurance on continuation of FDI Policy
21
Jun '13
Some global multi-brand retailers have sought an assurance from the Indian Government that any change of governments both at the Centre and in the states would not result in reversal of the foreign direct investment (FDI) Policy.
 
Retailers like Walmart and Tesco have sought the clarification before they decide on investing in India, says an Economic Times report quoting PTI.
 
An internal note of the Department of Industrial Policy and Promotion (DIPP) said some potential foreign investors have discussed their plans for investing in multi-brand retail trading (MBRT) in India, however, they need to address certain apprehensions raised by their Boards before taking the decisions.
 
One of the major issues raised by Walmart and Tesco relates to the continuation of the FDI policy for MBRT, even if there is any change in Government at the Central level.
 
They have also sought a clarification whether states, which have at present given nod for opening of front-end stores in their territory, can opt out at a later date.
 
The queries assume importance as general elections are due in India next year.
 
The Indian Government allowed up to 51 percent FDI in MBRT last year. But so far, only 11 Indian states have given green signal to allow foreign retailers to open stores in their territories. 
 
Earlier this month, the DIPP issued some clarifications pertaining to 30 percent sourcing from small and medium enterprises, and 50 percent investment in back-end infrastructure, in response to queries by global retailers.
 
Walmart already has 50:50 cash-and-carry joint venture with India’s Bharti Group, while Tesco is in partnership with Tata Group.
 

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 21st Aug 2017

GST payment & filing for July extended till Aug 25

The GST Implementation Committee, consisting of state and Central...

Textiles | On 21st Aug 2017

India’s cotton production may grow by 3.76% in 2016-17

India’s cotton production is likely to rise by 3.76 per cent to 345...

Textiles | On 21st Aug 2017

Telangana announces sops for textile, apparel sector

The Telangana government recently announced a string of incentives,...

Interviews View All

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Paolo Ocleppo
Sandvik Hyperion

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

Giorgio Mantovani
Corman S.p.A

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

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Igor Chapurin
Chapurin

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

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

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

August 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
67.7%
No
16.1%
Skip
16.1%

Total Votes: 31

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
45.2%
No
35.5%
Skip
19.4%

Total Votes: 31

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
83.9%
No
6.5%
Skip
9.7%

Total Votes: 31

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
61.3%
No
9.7%
Skip
29.0%

Total Votes: 31


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