Global fashion brand Benetton Group and lingerie retailer Zivame have also sought Indian government's approval to enter the country through foreign direct investment (FDI) in single brand retail route.
The Indian government allows 100 per cent equity investment in single brand retail trading under the FDI policy. It permits FDI of not more than 49 per cent under the automatic route, but approval is required if it exceeds this limit.
For proposals requiring FDI of more than 51 per cent, it is necessary for the companies to source 30 per cent of the value of goods from India. In a bid to attract more global players in the sector, the government is also considering the option of allowing 100 per cent FDI through automatic route in single-brand retail. (KD)
Fibre2Fashion News Desk – India
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