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Indian retailers want change in the countrys FDI norms

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With deep down fall in the market retail majors of the country feels that there should be some modification made on the canvas of FDI norms by the govt. so that more number of foreign retailers can be attracted to the slowed Indian market for better foreign liquidity. Source reported at www.propertykhazana.com reveals that some times back IKEA an overseas renowned household product venture has moved out from the future expansion in the country following mismatch in the ideals of country’s FDI policies.
On another note on www.propertykhazana.com an expert group of retail has revealed that the country’s economy is already suffering from the deficiency of liquidity in the market and if at this vital stage govt. does not act according to the wave of right prospects than it will be much difficult to bring back the lost glory of the retail sectors in India by overseas players. For the domestic giants also there are restrictions for the deals of many segments like fruits, grocery and vegetables along with the foreign heavy weights.
Earlier on a statement with www.propertykhazana.com an IKEA official cited that “we are hoping for a 100 percent FDI allowance but as it is out of the norms we will not be able to continue further with our Indian expansions”. At the same time an expert of retail segment commented on the political stand on the FDI that “the FDI air is still unclear from the ruling parties till date and it is very difficult to judge their favor whether they are for or against the FDI”. In addition director of National industry – Mr. Ramesh Srinivas has cited that “now the business units have been trying to decrease the inventory and shorten the cycles of working capital”. For more and latest realty updates visit www.propertykhazana.com.
Source: NBTVLIVE

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