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

Pic: Shutterstock

Apparel/Garments | On 28th Sep 2020

Philippine garment sector may be hit by EU GSP+ withdrawal

The potential loss of tariff advantages offered by the European Union ...

Pic: Shutterstock

Retail | On 28th Sep 2020

BRC welcomes Rishi Sunak's Job Support Scheme

Responding to the recent speech by the UK chancellor of the exchequer ...

Pic: Shutterstock

Retail | On 28th Sep 2020

'Many failings' in Boohoo’s Leicester supply chain: review

An independent review launched by Boohoo in July has “has identified...

Interviews View All

Deepak Jain, Baggout

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Representatives, Textile & apparel industry

Representatives
Textile & apparel industry

GST is a complicated and lengthy process

Abhimanyu Singh Rathore & Barbara Anna Kosiorek, Kannbar

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

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

Eric Schoeller,

Eric Schoeller

Groz-Beckert is the world's leading provider of industrial machine...

Nina Smith,

Nina Smith

GoodWeave International, a nonprofit working to end child, forced and...

Vasudevan LK,

Vasudevan LK

Epson is a world leader in digital imaging and printing solutions....

Mark Brill, Birmingham City University (BCU)

Mark Brill
Birmingham City University (BCU)

<div>A technological breakthrough could see people getting messages about...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, a global association of the nonwoven fabrics industry, has been...

Silke Brand-Kirsch, Schlegel und Partner

Silke Brand-Kirsch
Schlegel und Partner

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

Chandani Sahi, By Chandani

Chandani Sahi
By Chandani

By Chandani is a womenswear prêt couture brand with fusion silhouettes by...

Vaanee Bhatia, Gritstones Clothing

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Wendell Rodricks, Wendell Rodricks

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do 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

Leave your Comments


September 2020

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


Advanced Search