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Industry Status is must, demands the Indian retail sector

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Little improvement in the economy after the downturn, organized retailers in the country says that, segment must be given industry status, also reduction in foreign investment rules in the coming budget. Retailers Association of India’s CEO said to www.propertykhazana.com that, “Industry position has become a never ending retail segment and we also need a leisure in the FDI rules.” Chairman of Koutons Retail India said at the www.propertykhazana.com that, “Industry position is like a happening demand of the retail segment for many years, as only then the retailers will be able to enjoy the benefits of organized financing, insurance and fiscal incentives.” As per to the industry information, only about 5.5% of the excepted over USD 460 Billion Indian retail segment is presently organized.
RAI’s chairman said in a verbal communication to the www.propertykhazana.com that, “No industry in India has grown without FDI contribution and for retail to appear as a big player, still more FDI must be permitted. Also, if FDI rules are not cooled down in the budget, then the Govt. should give an explanation on FII and Foreign PE funding way as there is many dubiety.” KRI’s chairman also said, simplicity on the issue will assist Indian retailers hike funds from overseas as the international cash flow condition is showing some improvement. Currently, the Govt. permits about 52% FDI in single brand retailing and might ban any foreign investments in the multi-brand sector. For more updates on realty markets browse www.propertykhazana.com.
Source: NBTVLIVE

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