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

Sushubh

Administrator
[OP]
Oct 29, 2004
413,645
12,753
Gurugram
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
 

Toocool

Addicts
Apr 2, 2007
5,125
66
yey?

whoa. you guys are brainwashed. :p

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