Walmart faces yet another roadblock

At a time when global multi-brand retail chains were looking for easing of hurdles, the government seems to have impacted the entire retail universe by tightening the rules for wholesale traders. The Department of Industrial Policy and Promotion (DIPP), in a press note issued today, defined group firms as “two or more enterprises that directly […]

FIPB may take up 4 single brand retail proposals on Feb 13

The Foreign Investment Promotion Board (FIPB) is likely to take up four proposals of global brands, including Decathlon and Fossil Inc , worth over Rs 750 crore for setting up single-brand retail  stores in India during its next meeting scheduled on February 13. “The FIPB, in its next meeting, is likely to take up proposals […]

Govt to take call on IKEA’s FDI proposal on Monday

The Finance Ministry is likely to clear IKEA’s proposal to open cafeterias at its proposed mega retail outlets when the Foreign Investment Promotion Board (FIPB) reviews the Swedish furniture major’s request tomorrow. The FIPB , headed by Economic Affairs Secretary Arvind Mayaram, has already allowed IKEA to invest Rs 4,200 crore to undertake single brand retailing of […]

Won’t monitor retail dollars: RBI to Finmin

The RBI has told  finance ministry that it would not be able to monitor the end use of funds brought in to set up foreign-funded stores, according to a person privy to the development. The finance ministry has also conveyed its disinclination to watch over the utilisation of funds to the department of industrial promotion […]

An IKEA without cafes would be a first

The euro 25-billion Swedish furniture giant IKEA would make history if it decides to enter the Indian market without its signature cafes, restaurants and meat balls. Days after the Foreign Investment Promotion Board (FIPB) struck off 18 product categories of the 30 proposed by IKEA, the company said the chain did not operate stores without […]

DIPP nod to IKEA’s investment proposal soon

The Department of Industrial Policy & Promotion will clear Swedish furniture retailer IKEA’s proposal to invest up to Rs 10,500 crore in single brand retail stores in India in the next few days in time for it to be taken up by the Foreign Investment Promotion Board for approval on November 20 A senior government […]

Zara can set up Massimo Dutti brand stores: DIPP

International fashion chain Zara Holdings will be allowed to set up standalone brand stores for ‘Massimo Dutti’ brand in India with the government relaxing ownership norms for FDI in single brand retail. The application of the Netherlands-based company was earlier rejected as it violated a FDI rule which required the investor to own the brand it proposed to bring […]

DIPP to rework on rules of FDI in retail

After the foreign investment promotion board rejected a proposal by Zara Holding, to retail the luxury brand Massimo Dutti citing brand ownership issues, the Department of Industrial Policy and Promotion (DIPP) has decided to rework the current rules that are becoming a hurdle to global brands interested in investing in the India. The ministry fears […]

Indian State Govts. not willing to show hand on FDI in multi-brand retail

NEW DELHI: States may be for majority foreign direct investment in multi-brand retail but are not willing to commit in writing. The Department of Industrial Policy and Promotion (DIPP), Business Line learns, is yet to get any response from the States to its letter seeking their views on this move. India Inc has been lobbying hard […]

Govt unlikely to dilute FDI policy for single-brand retail

New Delhi:The government may not dilute the foreign direct investment (FDI) policy for single-brand retail but is likely to accommodate the demands of Swedish home furnishing major IKEA through guidelines issued by the foreign investment promotion board (FIPB). According to a government official, the department of industrial policy and promotion (DIPP) is awaiting clarification from […]