Aurangabad is all set to witness the opening of the first phase of Prozone’ India’s largest and the first horizontally designed shopping mall spread over 1 million sq ft area, housing a mall, hotel and office blocks. The inauguration will be held on…
India’s Largest And The First Horizontally Designed Mall To Open In Aurangabad
October 8, 2010 By Leave a Comment
New Policy On FDI In Multi-Brand Retail Soon: Scindia
October 8, 2010 By Leave a Comment
The Government today indicated that a new policy on foreign direct investment in the politically sensitive multi-brand retail sector will come soon. At present, India does not allow FDI…
United States To Press India On Retail Access
October 1, 2010 By Leave a Comment
The United States is set to lobby India to relax restrictions on foreign participation in its booming retail market as part of trade talks ahead of a visit by President Barack Obama to the country in…
FDI In Multi-Brand Retail Won’t Get Nod From Finmin
September 30, 2010 By Leave a Comment
The finance ministry is arriving at a consensus to reject a proposal mooted in government to permit foreign direct investment (FDI) in multi-brand retailing. A top source in the ministry told…
Multibrand retail FDI may remain in deep freeze amid protests
September 1, 2010 By Leave a Comment
pening up the multi-brand retail sector to foreign investors has always been a difficult proposition and if responses of the domestic retail sector will swing opinion in Udyog Bhavan, then it will be long time before the government will take this big step. Perhaps foreign inv
Opening FDI in Retail can boost agricultural and manufacturing output: Rajan Mittal
March 22, 2010 By Leave a Comment
Leading industrialist and Ficci president Rajan Bharti Mittal has said allowing foreign direct investment in multi-brand retailing is critical to boost agricultural and manufacturing output in India and urged the government to open up the sector to 49 per cent FDI. Mittal, who heads Bharati Enterprises, argued that FDI in multi-branding retailing would bring the [...]
Accord Industry status to Retail and Open FDI (Foreign Direct Investment) say retailers
February 17, 2010 By 1 Comment
Barely recovering from the slump in the economy, organised retailers in the country today said the sector should be given industry status, besides easing foreign investment norms in the forthcoming Budget. “Industry status has been a long standing demand of the retail sector. Besides we also want a relaxation in the foreign direct investment (FDI) [...]
FDI norms in retail sector should be relaxed
October 11, 2009 By 2 Comments
New Delhi: The Government needs to relax norms on foreign direct investment in retail to facilitate fresh infusion of funds and also promote competition in the sector, which has been hit by the economic slowdown, real estate consultant CB Richard Ellis has said.
“The existing FDI rules are a constraint. There is need to open up the sector a bit more as it will facilitate fresh infusion of funds and also promote competition,” CB Richard Ellis (CBRE) Chairman and MD (South Asia) Anshuman Magazine said.
Currently, 100 per cent FDI is allowed in wholesale cash-and-carry business, while in single-brand retailing 51 per cent FDI is allowed but none in multi-brand retailing.
The Parliamentary Committee on Commerce had earlier this year submitted a report opposing further opening up of the retail sector for FDI.
However, a report by the Indian Council of Research in International Economic Relation (ICRIER) in 2008, had mooted liberal FDI norms in the sector saying the sector would grow to USD 590 billion by 2011-12, of which organised retail would have a share of 16 per cent.
Sharing ICRIER’s views, Magazine said: “(Curently) the share of organised retail is still very small in the overall market and has scope for growth.”
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