Home / Knowledge / News / Apparel/Garments / No change in multibrand retail FDI policy: Indian official

No change in multibrand retail FDI policy: Indian official

Dec '18
No change in multibrand retail FDI policy: Indian official
India does not intend to change the existing foreign direct investment (FDI) policy related to multi-brand retail trade, according to Department of Industrial Policy and Promotion (DIPP) secretary Ramesh Abhishek, who said the $650 billion retail sector is growing fast, holding huge potential for businesses. DIPP also favours a cut in corporate tax rate, he said.

Finance Minister Arun Jaitley had lowered corporate tax rate to 25 per cent for businesses with turnover up to ₹250 crore.

Abhishek was speaking recently at a conference on 'MNCs and India: Creating Mutual Value' organised by the Confederation of Indian Industry (CII) in New Delhi, according to a news agency report.

The current FDI policy permits overseas players to hold 51 per cent stake in an Indian multi-brand retail company. So far, only one foreign company, Tesco, has been permitted to open stores under this policy under the previous United Progressive Alliance government.

The Confederation of Indian Industry (CII) had recently urged the government to permit 100 per cent FDI in multi-brand retail trade, provoking strong opposition from the Confederation of All India Traders (CAIT).

Abhishek urged the industry to provide convincing arguments and detailed analysis while recommending policy changes. (DS)

Fibre2Fashion News Desk – India

Must ReadView All

Pic: Shutterstock

Textiles | On 8th Aug 2020

Pandemic causes trade decline, dips commodity prices: IMF

Current account surpluses and deficits narrowed modestly in 2019, and ...

Pic: Shutterstock

Textiles | On 8th Aug 2020

Pak ministry working to get textile policy cleared by ECC

Pakistan's commerce ministry is busy trying to get the Textile Policy ...

Pic: Hermès International

Fashion | On 8th Aug 2020

Hermes Int H1 FY20: revenues €2,488 mn; net profit €335 mn

Hermes International SA, a French high fashion luxury goods...

Interviews View All

Headhonchos, Indian fashion industry

Indian fashion industry

Cotton consumption will keep growing in the Indian fashion industry

Karan Toshniwal, Orange O Tec

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Textile industry, Head honchos

Textile industry
Head honchos

Clothes are no more bound by gender

Madhu Sudhan Bhageria,

Madhu Sudhan Bhageria

Incorporated in August 1990, Filatex India Ltd manufactures manmade...

Abhishek Pachauri,

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Jos Notermans,

Jos Notermans

SPGPrints is a global provider of integrated solutions for rotary screen...

Ashok Desai, Bombay Textile Research Association

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Ian Russell, Pireta

Ian Russell

UK-based Pireta has developed a unique free-form process to add durable,...

Kerem Durdag, Biovation II LLC

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Ritu Kumar, Label Ritu Kumar

Ritu Kumar
Label Ritu Kumar

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

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

Ruma Devi is a jet-setting promoter of artisans who has empowered...

Amiben Shroff, Shrujan

Amiben Shroff

From its modest beginning in the late 1960s, Shrujan has grown into a...

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


Leave your Comments

July 2020

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

Advanced Search