51 percent foreign direct investment in multi-brand retail now allowed in India

  • Thread starter Thread starter Sushubh
  • Start date Start date
  • Replies Replies 48
  • Views Views 5,375
Sushubh

Sushubh

Admin
Staff member
Messages
406,905
Location
Gurgaon
ISP
Excitel
Airtel
India's Cabinet decided Thursday to allow more direct foreign investment in the huge retail industry, a move that could strengthen the country's food supply chain and open India to giant global retailers such as Wal-Mart.

The Cabinet approved 51 percent foreign direct investment in multi-brand retail and increased the FDI cap in single-brand retail to 100 percent despite resistance from both allies and opposition parties.

India currently allows 51 percent foreign investment in single-brand retailers and 100 percent for wholesale operations. Top retailers like Wal-Mart, Carrefour and IKEA have long lobbied to free the policy further.

India opens market to foreign multibrand retailers — old.news.yahoo.com — Readability
 
Get ready to see Tesco, Wallmart & Target as your local "Baniya's" !
 
:rofl:

----------

lets start discussing the bad and good points now 😀
 
yey?

whoa. you guys are brainwashed. 😛

It was always coming........ Took some time. But was inevitable..........
 

i am not sure. i guess we would only find out in the next couple of years.
 
Ok...... But I think india is a great market for decades to come for most of the European and American companies.(depression stuck) ....... I take your word that walmart is shit.... But many a great companies will come too...... It's gonna be great. And even walmart maybe be better than pure Indian 'lala ki dukaan '
 
don't know if ppl hate it or not .. But at the peak of meltdown they were turning to walmart only cos they were offering things at cheaper rate ..Sales for walmart in fact increased at the time of global meltdown in 2009 ..Anyways they won't be any different to the supermarts we see currently in India like More, Big Bazaar etc ..Ladies will still prefer buying vegetables and fruits from roadside vendors or the from gali mein aane wala bhaiya ..
 
i am not sure. i guess we would only find out in the next couple of years.

places where wal mart cant come small retailers will be safe other they would be gon..
 
because people here think that walmart is great.

most americans hate walmart.

I dont think they have experienced our small stores and mandis

If walmart,etc do come, I hope they are better than Big Baazar atleast
 
Actually companies like walmart were hoping for the 51% FDR to go through last year itself... Walmart had already started discussions with various property agents(read dalals) for acquiring land for lease... One of my Dad's acquaintance approached us on walmart's behalf for a property we own, they were interested in... This was last year... But last I heard they postponed their plans due to the 51% FDR not being passed... BTW walmart already present in the Indian market in a small way... They have 2 wholesale stores in Punjab(Amritsar & Jalandhar) operating since quite some time... These are in partnership with Bharti retail... Anyway if I was given a choice I would prefer Costco to come to India , which sadly they wont 🙁... Another company I m excited about coming to India is Amazon...PS My exp during my brief 3 month stay in Toronto was walmart has a lot of cheap items but coz of their economic situation a lot of the better brand products were available for same price or much less than the cheap Chinese stuff at walmart... My brother who stayed for 2 years in toronto was of a similar view & during his whole stay in canada he hardly went to walmart 3-4 times...
 

Top