Furla seeks FIPB nod for India joint venture with Genesis Luxury Fashion

Italian premium handbag and accessories retailer Furla has sought government’s approval to open single-brand retail outlets in the country through a joint venture with New Delhi-based Genesis Luxury Fashion. The Italian brand known for its women’s handbags and shoes has sought the Foreign Investment Promotion Board (FIPB) approval to form a 51%-49% venture with Genesis. […]

FIPB approves AirAsia’s tie-up with Tata Group

AirAsia Bhd’s proposal to set up a joint venture for running a passenger airline with the Tata Group has been approved by the country’s Foreign Investment Promotion Board (FIPB), a government statement said on Tuesday. Malaysia’s AirAsia, the largest budget carrier in Asia, plans to launch a regional airline in India with an initial investment […]

Nine FDI proposals worth Rs 1,140 crore cleared

Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on January 21, 2013, the Government has approved nine (9) Proposals of Foreign Direct Investment amounting to Rs.1140.14crore approximately. In addition, one proposal viz., M/s Ingka Holding Overseas B.V., amounting to Rs.10,500 crore, has been recommended for consideration of Cabinet Committee […]

Retail global biggies make a beeline for India

The big daddies of retail may be missing in action but there is a rush of single-brand players into the Indian arena with American leather goods player Coach Inc  and Spanish fashion house Balenciaga are the latest to join the bandwagon. Industry players said the two companies are in talks with local players for possible […]

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 […]

FIPB clears IKEA’s Rs 100bn investment proposal

The FIPB has cleared Rs 100bn investment proposal of Swedish furniture major IKEA to set up retail stores in the country with cafeterias, according to reports. Reports said that the proposal will be placed before the Cabinet Committee on Economic Affairs (CCEA) for final approval. The Foreign Investment Promotion Board had earlier permitted IKEA to […]

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 […]

IKEA insists on approval for its entire range of products

Swedish furniture retailer IKEA today said it wants the government to allow it to “retail its entire range of products”, including opening of cafes in its stores in India, in the wake of  FIPB  approving only Rs 4,200 crore investment out of a total of a proposed Rs 10,500 crore. “The IKEA Group must have […]

Govt keen to clear Ikea’s first mega-FDI proposal

Ikea cafes, restaurants and furniture outlets may soon be a reality in India, as the 25-billion euros (above Rs 1, 80, 000 crores) Swedish furniture chain prepares for its next meeting, scheduled for December 31 with the Foreign Investment Promotion Board (FIPB) to review its conditional approval given to the company on November 20. FIPB […]

Govt set to remove last hurdle for IKEA

This New Year’s eve might turn out to be special for the Euro 25-billion Swedish furniture chain IKEA . It is likely to get a go-ahead for operating cafés and restaurants in India, along with its furniture stores. In its next meeting, scheduled for December 31, the Foreign Investment Promotion Board (FIPB) is set to […]