No change in sourcing norms for FDI in single brand retail: Government

No proposal to modify sourcing norms for FDI in single brand retail is under consideration of the government, Parliament was informed on Friday.
No change in sourcing norms for FDI in single brand retail: Government

NEW DELHI: No proposal to modify sourcing norms for FDI in single brand retail is under consideration of the government, Parliament was informed on Friday.

In reply to a question in Lok Sabha whether there is any proposal to modify sourcing norms in respect of FDI in single brand retail, Commerce and Industry Minister Nirmala Sitharaman said: "No, Madam".As per the current FDI policy in the retail sector, 30 per cent of products sold by single brand retailers, where 100 per FDI is allowed, are to be "preferably" sourced from small and medium enterprises (SMEs).

To another query that whether there are pending proposals from multinational companies to start single brand retailing, Sitharaman said: "The Government has received some proposals from multinational companies...the proposals are under various stages for approval process."

Publish Date
Not Sponsored
Live: People Reading Now
 
 
 
 
TRENDING ARTICLE
RECOMMENDED FOR YOU