Mumbai: The government
has consented to foreign direct investment (FDI) of up to 51 per cent in single
brand product retailing, subject to certain conditions.
approval is subject to the following conditions: the products sold should be of
a "single brand only", should be sold under the same brand internationally,
and would cover only products that are branded during manufacturing.
"sold under the same brand internationally" means that products should
be sold under the same brand in one or more countries other than India.
FDI decision is on the agenda of the CCEA''s next meeting," Khatua added.
recommended a pattern for the government to follow. This should come into effect
any time soon, say by year-end," Khatua said.
government is understood to have arrived at a consensus on the foreign investment
limit for commodity exchanges, which is set to be pegged at 49 per cent, on the
lines of bourses. While the FDI limit will be capped at 26 per cent, FIIs can
take up to 23 per cent.
has given permission to Multi Commodity Exchange (MCX) to reduce its promoters''
stake to 38 per cent, in line with its that promoter holding in commodity exchanges
could be up to 40 per cent, Khatua said.