India may remove foreign investment cap in single-brand retail | business | Hindustan Times
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India may remove foreign investment cap in single-brand retail

business Updated: Oct 03, 2011 11:34 IST

Reuters
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India is considering opening fully its single-brand retail sector to foreign direct investors, raising the investment allowed to 100% from 51%, the industry secretary said on Monday.

"It is under consideration," RP Singh told Reuters by phone, declining to provide any time frame.

India currently allows 51% foreign direct investment (FDI) in single-brand retailers and 100% in wholesale operations.

The government has considered allowing foreign firms to invest in supermarkets, but lack of political consensus and concerns of small-shop owners have so far prevented the move.