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Government relaxes FDI norms in retail
Posted On: 13-11-2015 00:00:00 15

According to Industry Ministry data, India received FDI of $19.39 billion during January-June 2015, an increase of 30 % over the same period last year. Now, the govt. has made a slew of changes across industries to make the FDI process easier. The crux of these reforms is to further simplify the process of foreign investments in the country and to put more FDI proposals on the automatic route instead of the Government approval route. The changes in the sector retail have been reported as follows:

It has been decided that in the case of state-of-art / cutting edge businesses, sourcing norms (that 30 % of value of goods will have to be purchased from India) can be relaxed - subject to Government approval, a move that could benefit companies such as Ikea.

The government has also permitted companies that have been granted permission to undertake Single Brand Retail, to do e-commerce.

The government has also allowed 100 % FDI in duty free shops.

Further, a single entity will be permitted to undertake both the activities of single brand retail trading and wholesale with the condition that conditions of FDI policy on wholesale/ cash & carry and Single Brand Retail have to be complied by both the business arms separately. Currently a wholesale/cash & carry trader cannot open retail shops to sell to the consumer directly.

Manufacturers have been allowed to sell their product through wholesale and/or retail, including through e-commerce without Government approval.

 
 
 

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