No proposal on FDI in multi-brand retail received so far

FDI retail

Government today said it has not received any proposal related to foreign direct investment in multi-brand retail so far.

"No proposal has been received for FDI in multi-brand retail," Consumer Affairs, Food and Public Distribution Minister K V Thomas said in a written reply to the Lok Sabha.

The government has permitted FDI up to 51 per cent in the multi-brand retail trading last year.

He also said that since 2006, 66 proposals, including that of GAS, Diesel Fashion, Hallmark Group, Nokia Corporation, Pavers and Damiani, in the single brand retail have been approved by the government.

He added that the government has received 12 proposals including Tommy Hillfiger and Ingka Holdings over which it has not taken a decision.

Please read our terms of use before posting comments
TERMS OF USE: The views, opinions and comments posted are your, and are not endorsed by this website. You shall be solely responsible for the comment posted here. The website reserves the right to delete, reject, or otherwise remove any views, opinions and comments posted or part thereof. You shall ensure that the comment is not inflammatory, abusive, derogatory, defamatory &/or obscene, or contain pornographic matter and/or does not constitute hate mail, or violate privacy of any person (s) or breach confidentiality or otherwise is illegal, immoral or contrary to public policy. Nor should it contain anything infringing copyright &/or intellectual property rights of any person(s).
comments powered by Disqus