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    HomeNewsBusinessCompaniesCabinet approves 51% FDI in multi-brand retail

    Cabinet approves 51% FDI in multi-brand retail

    Indian retailers finally get a chance to rejoice as the Cabinet today cleared the bill to increase foreign direct investment to 51% in multi-brand retail and 100% in single brand.

    November 25, 2011 / 10:03 IST

    Indian retailers finally get a chance to rejoice as the Cabinet today cleared the bill to increase foreign direct investment to 51% in multi-brand retail and 100% in single brand.


    Commerce and industry minister Anand Sharma said that he would give a statement in Parliament on retail FDI.


    Currently, India allows 51% FDI in single brand retail and 100% FDI in cash and carry format of the business.

    The decision will be cheered by global retail giants such as Wal-Mart that have long been eyeing India's lucrative retail sector which is mainly populated by small
    first published: Nov 24, 2011 09:10 pm

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