Delhi: Global coffee giant Starbucks plans to file
a revised application to the department of industrial
policy and promotion (DIPP) for an entry into the Indian
department feels that Starbucks should enter through
the FDI route and the coffee chain had earlier applied
for entry through the franchisee route.
the previous proposal, the master franchisee was New
Horizons Retail, floated by Indonesia-based NRI VP Sharma
and Kishore Biyani, the CEO of the Future Group.
into the share-holding pattern of New Horizons Retail
in which Sharma holds 51 per cent and Biyani the remaining
49 per cent DIPP feels that the company does not conform
to the FDI norms, given that the majority stake is held
by an NRI.
DIPP''s annual review of the FDI policy is likely to
be over by July-end.