Diabytes
Multi-brand retail News
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He said that necessary action will be taken against defaulters, adding that government will give all support and assistance to small traders and retailers to grow their business.
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These clarifications have come against the backdrop of new provisions announced by the DIPP related to FDI in e-commerce sector last month.
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With the introduction of composite cap in foreign investment policy, portfolio investors can invest up to 49 percent in multi-brand retail and e-retail companies without government approval, an official said.
The Delhi High Court on Wednesday asked the Centre to treat as a representation a plea of a traders association which is opposed to FDI in multi-brand retail and e-commerce.
The world's largest retailer also said its arm, Walmart India will focus on wholesale cash and carry business in the country currently and is not looking at multi-brand segment, where foreign investors are not allowed beyond 51 percent.
One of the big concerns that investors in the US have about India is lack of decisiveness on FDI in multi-brand retail, says a US expert on India.
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