india moves to open up 450 bln retail sector
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Last Updated : GMT 09:40:38
Themuslimchronicle, themuslimchronicle

India moves to open up $450 bln retail sector

Themuslimchronicle, themuslimchronicle

Themuslimchronicle, themuslimchronicleIndia moves to open up $450 bln retail sector

New Delhi - AFP

A top Indian government panel has approved a plan to allow foreign direct investment in the country\'s vast retail market in what would be one of the country\'s biggest economic reforms. But it said investors would have to put in at least $100 million to set up multibrand retail stores and would only be allowed to operate in cities with at least one million people, the Press Trust of India said late Friday. The proposal to more fully open up the Indian retail market, whose annual sales are estimated at around $450 billion, now must go to the federal cabinet for approval and then overcome widespread political opposition. The move would mark one of the biggest reforms by India\'s Congress-led government. But analysts say it could be difficult for the embattled government to push through the major changes as it fends off a slew of corruption charges. Multi-brand foreign groups such as US-based Wal-Mart currently operate as wholesalers but cannot sell directly to the public, amid fears that big international retail chains could swamp small family-run stores. India\'s tight foreign investment rules are aimed at protecting small \"mom-and-pop\" stores in the sector where less than 10 percent of consumers shop in bigger, well-known department stores. The policy change would mean foreign retailers could start selling to Indian shoppers through partnerships with Indian retailers and be allowed to hold up to a 51 percent stake in local joint ventures. India has already allowed 51 percent foreign investment in single-brand retail operations such as Nokia or Reebok and 100 percent in wholesale cash-and-carry operations. \"Step-by-step, we\'re moving closer to opening multi-brand retail in India to FDI. This will invite a lot of interest from retailers the world over,\" said Kishore Biyani, chief executive of leading Indian retailer Future Group. Large retailers such as Wal-Mart and France\'s Carrefour have been lobbying India\'s government aggressively to open the consumer market to foreign chains as they seek to grow outside saturated Western markets.

themuslimchronicle
themuslimchronicle

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

india moves to open up 450 bln retail sector india moves to open up 450 bln retail sector

 



Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle

GMT 21:49 2018 Tuesday ,23 January

Trump to tell Erdogan of concern over Syria offensive

GMT 08:26 2018 Tuesday ,23 January

Five things to know about Davos

GMT 16:13 2018 Sunday ,14 January

Netanyahu urges Macron to 'fix' Iran nuclear deal

GMT 10:17 2016 Thursday ,21 January

WHO confirms second new Ebola case in Sierra Leone

GMT 13:33 2011 Wednesday ,06 July

Russia bids to expand Arctic border to seek gas

GMT 09:06 2011 Wednesday ,21 September

Powerful typhoon hits Japan

GMT 11:15 2011 Wednesday ,03 August

2 glaciers in Nepal to disappear

GMT 19:01 2017 Saturday ,19 August

Finland suspect an asylum seeker, targeted women

GMT 02:45 2017 Wednesday ,08 February

Coup defeat a matter of time, says Yemeni VP

GMT 17:38 2017 Friday ,14 July

Saad Lamjarred denied issuance of new song

GMT 16:02 2011 Thursday ,21 April

Chelsea squad not good enough

GMT 11:29 2011 Tuesday ,19 July

Etihad Towers on track for delivery

GMT 02:05 2017 Wednesday ,22 February

UAE takes keen interest in supporting higher education

GMT 07:17 2017 Saturday ,01 July

Key US inflation measure declines in May
Themuslimchronicle, themuslimchronicle
Themuslimchronicle, themuslimchronicle
 
 Themuslimchronicle Facebook,themuslimchronicle facebook  Themuslimchronicle Twitter,themuslimchronicle twitter Themuslimchronicle Rss,themuslimchronicle rss  Themuslimchronicle Youtube,themuslimchronicle youtube  Themuslimchronicle Youtube,themuslimchronicle youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2023 ©

muslimchronicle muslimchronicle muslimchronicle muslimchronicle
themuslimchronicle themuslimchronicle themuslimchronicle
themuslimchronicle
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
themuslimchronicle, themuslimchronicle, themuslimchronicle