INDIA: Delhi government blocks FDI in multi-brand retail
The Delhi government is understood to have withdrawn approval to foreign direct investment in multi-brand retail, saying it may hinder foreign investments flowing into the country.
According to the Economic Times, the Aam Aadmi Party-headed government has written to the Department of Industrial Policy and Promotion (DIPP) seeking to withdraw its permission to allow FDI in multi-brand retail in the state.
The news comes just 15 months after the policy change and one month since the state received its first investment proposal.
The measure allowing foreign retailers to own 51% of multi-brand retail outlets was brought in in 2012. The Indian government then eased restrictions on foreign investment into the multi-brand retail sector in August last year - nearly a year after initial reforms were introduced.
Conditions included the power for individual states to block the opening of multi-brand outlets.
- Supply chain takeaways from Sourcing at MAGIC
- Cotton supply chain transparency an ongoing issue
- No simple way to be sustainable, says SAC CEO
- Why voters don’t want more global supply chains
- Denim and athleisure top picks for back-to-school
- Li & Fung eyes supply chain speed in 3-year plan
- Zara USA faces US$5m deceptive pricing lawsuit
- EU clothing imports from China continue to plunge
- EU relaxes origin rules on Jordan clothing exports
- US Q2 in brief - Sears, Burlington, Tilly's
- Too Many Standards
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Under Armour, Inc. (UA) - Financial and Strategic SWOT Analysis Review
- Myanmar's Garment Sector in 2015 - now with updated members' directory
- Central America strategic sourcing review - a focus on Guatemala, El Salvador and Honduras