DIPP approves FDI proposal for single-brand retail sector

The portal was set up after the winding up of the foreign investment promotion board

PTI

November 11, 2017 / 09:53 IST

The Department of Industrial Policy and Promotion (DIPP) today said it has cleared a proposal of Christian Louboutin FZCO in the single-brand retail sector.

"Proposal of Christian Louboutin FZCO for acquiring 51 percent of the equity shares capital of Christian Louboutin India Pvt Ltd and for the addition of handbags, cosmetics and jewellery/imitation jewellery to the list of products approved in the previous approval," according to the DIPP’s Foreign Investment Facilitation portal.

Also Read: DIPP approves 3 FDI proposals for single-brand retail

The portal was set up after the winding up of the foreign investment promotion board.

FDI into the country grew 9 percent to USD 43.47 billion in 2016—17.

PTI

first published: Nov 11, 2017 09:40 am

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