For the purpose, retail locations will be restricted to conforming areas as per the Master/Zonal Plans of the concerned cities and provision will be made for requisite facilities such as transport connectivity and parking.The Government said the amendment in the extant FDI policy relating to MBRT in respect of ‘small industry’ will bring in a balance between the business exigencies of the MBRT entity and intent of the policy which is to extend the benefits of the FDI policy in multi-brand retail trading to a larger constituency of small industries.
The amendment in the provision regarding ‘back-end infrastructure’ will give more clarity to the FDI Policy, while the amendment to the provision regarding location of retail outlets will bring in parity in the policy as it is proposed to extend such dispensation to all States, according to a statement.
India's Cabinet has approved the proposal for amendment in the existing foreign direct investment (FDI) Policy in Multi-Brand Retail Trading (MBRT).#
Fibre2fashion News Desk - India