FDI in Retail Sector
December 1, 2010
As per extant policy on Foreign Direct Investment (FDI) for the retail sector, FDI is permitted, up to 51%, only in Single Brand product retailing, with prior Government approval and subject to the following conditions:-
(i) Products to be sold should be of ‘Single Brand’ only;
(ii) Products should be sold under the same brand internationally; and
(iii) ‘Single Brand’ product-retailing would cover only products which are branded during manufacturing.
The Government has approved 59 cases of single brand retailing since in March 2006, when FDI was allowed in Single Brand Retail, until October, 2010.
This information was given by Shri Jyotiraditya M Scindia, Minister of State for Commerce and Industry, in a written reply in the Rajya Sabha today.
