100 Per Cent FDI in Single Brand Retail Notified
Department of Industrial Policy and Promotion Ministry
of Commerce and Industry notified the decision to allow 100 per cent FDI in Single
brand retail today via Press Note No.1 (2012 Series). The Union Minister for
Commerce Industry and Textiles said “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. We have now allowed
Foreign Investment up to 100 percent with the
stipulation that in respect of proposals involving FDI beyond 51 per cent there
will be mandatory sourcing of at least 30 per cent of the total value of the
products sold would have to be done from Indian ‘small industries/village and
cottage industries, artisans and craftsmen, This step will provide stimulus to
domestic manufacturing value addition and help in technical upgradation
of our local small industry.”
Click here to see details: The
Press Note No. 1 (2012 Series) of DIPP can be seen here
[Source: Ministry of Commerce &
Industry, PIB Press Release dated 10th January 2012]