New Delhi: The Government of India approved 18 foreign direct investment (FDI) proposals worth US$ 173 million in the single brand retail sector during April 2010 and May 2013. Out of these, five proposals worth US$ 137.68 million were approved during the first two months of 2013-14.
Fashion brand Promod, France-based crockery maker Le Creuset, accessories firm Fossil Inc and French sports giant Decathlon are some of the firms which have received approvals to open retail stores under the single-brand retail policy.
The Government had raised the FDI cap in single-brand retail to 100 per cent from 51 per cent in January 2012.
The country also attracted FDI worth US$ 256.7 million in agriculture services during April 2010 and May 2013, said Mr Anand Sharma, Union Minister for Commerce and Industry, Government of India.
Thursday, 22 August 2013
FDI proposals worth US$ 173 million in single brand retail were approved till May 2013
Posted on 06:10 by Unknown
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