India nearer to liberlising FDI in retail trade

17 Nov 2011

1

India is expected to throw open its markets to multi-national multi-brand retailers such as Walmart and Tesco with the government finally agreeing to a political initiative that has stalled a policy shift for years.

The finance ministry has given its approval to a cabinet proposal for 51 per cent foreign direct investment (FDI) in multi-brand retail trade.

Reports quoting official sources said today that the final cabinet note on retail foreign direct investment (FDI) is likely to be issued next week.

Besides seeking 51 per cent FDI in multi-brand retail, the cabinet note also proposes to increase FDI in single brand retail from 51 per cent to 100 per cent.

"Finance ministry has given concurrence to the proposal of the Department of Industrial Policy and Promotion (DIPP) on allowing FDI in multi-brand retail sector," reports quoting sources at the finance ministry said today.

The DIPP had earlier circulated a draft cabinet note to seek inter-ministerial views on the issue.

Business History Videos

History of hovercraft Part 3...

Today I shall talk a bit more about the military plans for ...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of hovercraft Part 2...

In this episode of our history of hovercraft, we shall exam...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Hovercraft Part 1...

If you’ve been a James Bond movie fan, you may recall seein...

By Kiron Kasbekar | Presenter: Kiron Kasbekar

History of Trams in India | ...

The video I am presenting to you is based on a script writt...

By Aniket Gupta | Presenter: Sheetal Gaikwad

view more