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FinMin considers three single-brand retail FDI proposals
SME News, Wednesday, Oct 17, 2012 12:59:31 PM IST
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NEW DELHI: Union Finance Ministry will be considering proposals of US-based clothing retailer Brooks Brothers and Italian jewellery major Damiani for making direct investment in single-brand retail sector.
The Foreign Investment Promotion Board (FIPB) headed by Economic Affairs Secretary Arvind Mayaram this month will be taking up UK-based footwear company Pavers England's FDI suggestion for single-brand retail sector.
The applications of Brooks Brothers Group Inc (BBG), Damiani India Pvt Ltd and Pavers England Ltd, are listed under the 'fresh proposals' category of FIPB agenda.
After Centre liberalised the foreign direct investment policy to permit 100% FDI in single-brand retail during January, large count of international retailers have displayed interest to establish stores in India.
Under the previous regime of almost 51% FDI, India managed to lure just nearly Rs 200-crore investment in the last three-and-a-half years.
Under the previous regime of almost 51% FDI, India managed to lure just nearly Rs 200-crore investment in the last three-and-a-half years.
Damiani India is eyeing permission for single-brand retail business in partnership with Damiani International.
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