Home / Knowledge / News / Apparel/Garments / Karnataka to open its doors for FDI in multi-brand retail
Karnataka to open its doors for FDI in multi-brand retail
Jun '13
The southern Indian state of Karnataka is likely to soon allow foreign direct investment in multi-brand retail trading (MBRT), according to the Department of Industrial Policy and Promotion (DIPP).
Earlier this month, the north Indian state of Himachal Pradesh agreed to allow FDI in MBRT, thus taking the tally of states and union territories that have agreed to the Union Government’s policy to 11.
The change in stand of the Karnataka government to allow FDI in multi-brand retail has come after the recent change in government. It would become the 12th state and union territory to implement the Central Government’s policy, when it formally notifies the same.
Andhra Pradesh, Haryana, Maharashtra, Rajasthan and Manipur are among the states that have agreed to implement the Indian Government’s decision to allow up to 51 percent FDI in MBRT.
The decision by the state government would clear the way for several global retailers to open their outlets in Karnataka.
Meanwhile, Bangalore Chamber of Industry and Commerce (BCIC) has welcomed the Karnataka government’s intention to allow FDI in multi-brand retail and termed it as a step in right direction.
The decision would lead to a surge in retail activities in the state, and in the process boost employment, benefit the consumers, and strengthen the state’s economic growth, BCIC president M Lakshminarayan said in a statement.
Since the Government of India allowed FDI in the country’s multi-brand retail sector in September 2012, the Foreign Investment Promotion Board (FIPB) has so far not received any proposal from global retailers.
The Indian Government is now pondering on increasing the FDI limit from the current 51 percent to 74 percent, as recommended by Arvind Mayaram Panel.

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 25th Jun 2017

Half of 7,000 new apparel online each day target women

Adobe has released its first Digital Price Index for apparels,...

Textiles | On 25th Jun 2017

First Insight, Chico's FAS enter partnership

First Insight, a technology company transforming how retailers make...

Apparel/Garments | On 25th Jun 2017

Expand changing use of social and web resources

With over 400 million impressions to date and web traffic of over two ...

Interviews View All

Amrit Sethia

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Urs Stalder
Sanitized AG

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

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Ritu Kumar
Label Ritu Kumar

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

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
June 2017

June 2017

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


Browse Our Archives


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