Ummid Assistant

Jamia Millia launches courses on China, Afghanistan

IGNOU launches value education programme for teachers

Welcome Guest! You are here: Home Business & Economy

India allows 100 percent FDI in single brand retail

Tuesday January 10, 2012 07:44:24 PM, IANS

Related Articles

Government has not 'shelved' FDI in retail: Pranab

India has not shelved its plan to allow foreign equity in multi-brand retail, Finance Minister Pranab Mukherjee said Friday saying "it is very much in the mind of the government" and efforts are on to build   

Retail FDI implementation after next year's assembly polls: PM

FDI in retail: Time India removed its blinkers

New Delhi: India Tuesday allowed 100 percent foreign equity in single brand retail, notifying the norms that among other things said all wholly owned international brands will need to source 30 percent of their requirements locally.

The government justified the move, saying that foreign direct investment (FDI) in single brand will attract investments in production and marketing, improve the availability of such goods for the consumer and encourage sourcing of goods from India, according to a notification by the commerce and industry ministry.

"The cabinet took the conscious decision to liberalise policy for FDI in single brand retail. FDI in single brand has led to emergence of some global majors in Indian market," said Commerce and Industry Minister Anand Sharma.

Until now, global retailers owning a single brand had to look for an Indian partner as the cap on foreign equity was 51 percent.

The ministry had earlier mooted relaxation in multi-brand retail investment norms up to 51 percent, which led to a nation-wide furore and unrest, even within the ruling United Progressive Alliance government, resulting in the withdrawal of the decision last month.

As per the notifications, products to be sold should be of a single brand only as they are sold internationally.

Companies which propose to set up wholly owned subsidiaries under the single brand format would have to source at least 30 percent of the value of products sold from Indian small industries, artisans and craftspersons.

The notification defined small industries as entities which have a total investment in plant and machinery not exceeding $1 million.

"Further, if at any point in time, this valuation is exceeded, the industry shall not qualify as a 'small industry' for this purpose. The compliance of this condition will be ensured through self-certification by the company, to be subsequently checked, by statutory auditors," according to the notification.

"This step will provide stimulus to domestic manufacturing value addition and help in technical upgradation of our local small industry," said Sharma.

Also, only products which are branded during manufacturing will be considered for entry under the single-brand format.








Bookmark and Share

Home | Top of the Page


Note: By posting your comments here you agree to the terms and conditions of

Comments powered by DISQUS






Top Stories

Falsely tainted with Mecca Masjid blast, compensation eludes these victims

They are the worst victims of physical and mental torture by police in the Mecca Masjid blast case. But like justice, compensation too seems to elude them till date.  

Tortured for Mecca Masjid blast, money can't heal their wounds

Compensation, certificates to 61 Muslim youths tortured in blast case


  Most Read

Shehla Masood murder case: AIIMS forensic experts to visit Bhopal

With no headway made in the five-month investigation into the murder of RTI activist Shehla Masood, a team of forensic experts from All India Institute of Medical Sciences (AIIMS) is likely to visit  

Doctors fear, Malegaon becoming a hub for sex determination tests

Radiologists of Malegaon say pre-natal sex determination tests have never been an option for them. For, compared to the population and area of the city, number of sonography centres in Malegaon is far less than the actual requirement. Due to which the daily patient turnover they get is enough  


  News Pick

Uttar Pradesh first phase poll shifted to March 3, counting March 6

Counting for the assembly polls in five states will be held March 6 instead of March 4, the Election Commission announced 

Taj fest postponed due to polls, Agra seethes with anger

Congress, Trinamool ties reach new low

Ties between the Congress and Trinamool Congress reached a new low Monday with the Trinamool leadership terming its ally as a "shameless party" which is not ready to quit the state ministry despite being asked to  

BJP demands action against Khurshid for violating code of conduct

The Bharatiya Janata Party (BJP) Tuesday asked Chief Election Commissioner S.Y. Quraishi to take action against 

Khurshid defends announcement of quota for Muslims


Picture of the Day

Dhananjay Bele, President of Nashik Industries & Manufacturers Association (NIMA). addressing the industrialists' meet in Malegaon Friday. The meeting was organised as part of Malegaon Mahautsav 2012, a three day event which began on January 06.




RSS  |  Contact us


| Quick links



Subscribe to

Ummid Assistant



Science & Technology



About us




Government Schemes










Contact us




    Disclaimer | Terms of Use | Advertise with us | Link Exchange is part of the Awaz Multimedia & Publications providing World News, News Analysis and Feature Articles on Education, Health. Politics, Technology, Sports, Entertainment, Industry etc. The articles or the views displayed on this website are for public information and in no way describe the editorial views. The users are entitled to use this site subject to the terms and conditions mentioned.

2010 Awaz Multimedia & Publications. All rights reserved.