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FDI for multi brand retailing is to get govt. nods

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Concerning the hard hit of economy the govt. may now relax few measures on the FDI for the multi brand retails of the country. Sources reported at www.propertykhazana.com reveals that now the current tight schedule of the credits to the retails and other joint ventures will come under few relaxations to encourage the Indian retail sector to its most extent.
The govt. statement of new FDI norms for uplift the retail has gained mix response from the retailers. On a short note with www.propertykhazana.com Kishore Biyani of Future group explains that “the govt. has at last vibe the realty of global market and its influence on Indian market but its late action on the multi brand is making the other retail players think before their further acts”. But on the other hand, head of Ernst & Young expresses a satisfactory statement towards the govt. initiative for the FDI in multi brand.
Mr. Kishore at www.propertykhazana.com further suggests that “govt. should initially raise the limit of investment in FII for the retail units ranging from 24 percent to that of 49 percent before concentrating on the Foreign Direct Investments. On the same note Mr. Mishra explains that “it will surely benefit the larger foreign retail units which have started operations in India with cash and carry model and then plans for retail in the next segment.” For more and latest realty updates visit www.propertykhazana.com.
Source: NBTVLIVE

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