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India should reconsider FDI retail policy: ICRA

20
Jan '19
India should reconsider FDI retail policy: ICRA
India should reconsider its ‘restrictive’ retail foreign direct investment (FDI) policy as it has not been able to garner sizeable investments despite opportunities, according to ratings firm ICRA. There is a compelling case as investment needs are sizeable, ICRA vice-president and co-head for corporate sector ratings Kinjal Shah said recently in Bhubaneswar.

The multi-brand retail sector is the ‘most restrictive’ to FDI now with a cap of 51 per cent ownership and guidelines on mandatory investments in back-end infrastructure and local sourcing norms, a news agency reported ICRA as saying.

India received $1.4 billion in FDI in the retail sector between 2000 and 2018, which is only 0.36 per cent of the overall FDI inflows, according to a data released by the Department of Industrial Policy and Promotion.

India needs to raise the caps on foreign ownership in the segment to remove the supply chain inefficiencies as there is limited domestic capital being invested in the sector, Shah added. (DS)

Fibre2Fashion News Desk – India


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