Advertisement

HindustanTimes Sun,20 Apr 2014

FDI with conditions

Hindustan Times  New Delhi, November 19, 2011
First Published: 00:13 IST(19/11/2011) | Last Updated: 02:16 IST(19/11/2011)

The government is likely to allow global supermarkets such as Walmart, Tesco and Carrefour to set up deep discount stores in India, but with a few conditions.

The department of industrial policy and promotion has moved a formal proposal to allow up to 51% FDI in multi-brand retail and 100% in single-brand retail, which most ministries and departments have now agreed with.

According to the proposed policy, at least 50% of the total FDI should be in back-end infrastructure.

Advertisement
Large deep discount stores will be allowed to be set up only in cities with a population of more than 10 lakh and only in those states that allow FDI in multi-brand retail.
http://www.hindustantimes.com/Images/HTEditImages/Images/19-11-pg12b.jpg

Advertisement
more from Business

700 trainees opt for exit plan at Nokia’s Chennai plant

Finnish handset maker Nokia, struggling to shepherd its Chennai plant into its agreement to be bought by US software giant Microsoft amid tax disputes in India, has got some success with 736 of its trainees accepting the voluntary separation scheme.
markets
Advertisement
Most Popular
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved