4 Intl labels get FIPB approval

The FIPB has cleared the proposals of four overseas retailers to set up operations in the country. French cookware maker Le Creuset, sportswear company Decathlon, jewellery and watch maker Fossil Inc. and Promod (To set up Joint venture) are the ones to have recieved a go ahead. Decathlon proposed to invest Rs 7 billion,  Fossil  - Rs 42 million rupees and Promod - Rs 300 million. 

The Cabinet had in September last year decided to operationalise 51 per cent Foreign Direct Investment (FDI) in multi-brand retail.