Senior Correspondent, IndianRetailer.com & Retailer Magazine Dec 27, 2017 / 1 MIN READ
Two foreign direct investment (FDI) proposals, including that of Damro Furniture worth over Rs 400 crore were approved by the department of industrial policy and promotion (DIPP) in the retail sector.
Damro Furniture would undertake single brand retail trading of 'Damro' branded products in India, according to the DIPP's Foreign Investment Facilitation portal.
Supr Infotech Solutions will carry out food product retail trading of milk and other daily need products. The firm proposes to invest Rs 10.85 crore.
Company had proposed to invest Rs 402 crore. The portal was set up after the winding up of the foreign investment promotion board. FDI into the country grew 17 per cent to USD 25.35 billion during April-September this fiscal.
Inflation rate in rural and urban areas stood at 5.34 percent and 4.92 percent, down from 5.93 percent and 5.46 percent seen in the same month a year ago.
Presently there is a phenomenal amount of inflation, hence FMCG volume growth in rural areas is muted and the bulk of the growth is inflation lead
Reaches 8.83 per cent in February 2012.
Rising prices of food and beverages like coffee, tea, poultry, fish and vegetables pushed up inflation to 5-month high of 6.01% in May.
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