Home / Knowledge / News / Apparel/Garments / Indian govt to address concerns of global retailers on FDI
Indian govt to address concerns of global retailers on FDI
28
Jun '13
The Government of India would at the earliest address the concerns raised by global retailers, especially on investment and sourcing issues in connection with the country’s foreign direct investment (FDI) Policy for multi-brand retail trading.
 
Speaking to reporters after a Round Table meeting with the CEOs of leading international and domestic retail chains, India’s Commerce and Industry Minister Anand Sharma said retailers have sought a change in rules for FDI in multi-brand retail, and make the rules same as those applicable for 100 percent FDI in single-brand retail.
 
Mr. Sharma said the Government would soon address the concerns raised by the investors and bring more clarity in its FDI Policy for multi-brand retail.
 
He assured the potential investors that the Government will take an early and appropriate view and issue necessary guidelines.
 
The Round Table was called by the Minister to seek views of the global and domestic retailers on issues related to implementation of the FDI Policy and address their concerns, if any.
 
At the conference, the retailers requested the Government to modify the 50 percent investment in back-end infrastructure norm to make it applicable only on the first tranche of investment, instead of the entire investment.
 
Retailers also raised the issue of 30 percent sourcing clause and urged the Government to make it ‘preferable’, instead of ‘mandatory’, as it was not possible to buy everything from the SMEs, Bharti Enterprises vice-chairman Rajan Bharti Mittal told media.
 
The retailers said it was necessary that the Government quickly issues clarifications in order to generate greater interest among international investors to invest in the country.
 
CEOs of Tesco India, Carrefour, Aditya Birla Retail, Landmark and Reliance Retail were among those who participated in the investors’ conference with the Minister.
 

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Stone Island

Apparel/Garments | On 25th Jun 2018

Stone Island has mastered ingredient branding: Braind

Italian high-end men's apparel brand Stone Island tops the list of...

Courtesy: Tecnorama

Textiles | On 25th Jun 2018

'Tecnorama automatic dyeing system offers efficiency'

Italy based Tecnorama’s fully-automatic machinery for dispensing...

Courtesy: Pantone

Textiles | On 25th Jun 2018

Pantone unveils polyester standards

Pantone, provider of professional colour standards for the design...

Interviews View All

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Kamal Kulshreshth

Colorjet is among the fastest-growing wide format digital inkjet print...

Kalai Selvi

Vidyashilp Academy in Bengaluru is the country's first Fairtrade School....

Marten Alkhagen
Swerea IVF AB

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

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

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...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

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


June 2018

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

news category


Related Categories:

Advanced Search