Financial Daily from THE HINDU group of publications
Thursday, May 18, 2006
Financial Daily from THE HINDU group of publications Thursday, May 18, 2006 |
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Marketing
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Retailing Industry & Economy - Foreign Direct Investment Louis Vuitton, Lladro seek Govt nod for retail foray Our Bureau
New Delhi, May 17 International apparel company Louis Vuitton Malletier of France, Lladro Commercial SA of Spain, and Haryana-based Moja Shoes have sought Government permission to bring in FDI in retail trade. The Government had allowed 51 per cent foreign direct investment in single brand retailing on February 13 this year. Since then only these three companies have approached the Government. Moja Shoes of Sonepat has sought permission to bring in FDI from Mauritiusbased Tano India Private Equity Fund-1. SINGLE BRAND FDI All of them have applied for Government approval for FDI for single brand product retailing, the Minister for Commerce and Industry, Mr Kamal Nath, informed the Lok Sabha. FDI INFOW Meanwhile the FDI inflow during fiscal 2005-06 has been estimated at around $8.3 billion, up 50 per cent from $5.53 billion the previous fiscal. This includes equity as well as reinvested earnings and other capital. According to the Minister, based on current trends, FDI inflow into India would touch $10 billion annually from the current financial year. FDI in the equity alone stood at $5.13 billion, which is the highest ever FDI equity inflow in the country during any year and is 60 per cent more than the previous year. Though the estimates of reinvested earnings and other capital inflows are yet to be released by the RBI, taking past trends into account, this would be around $3.2 billion. FDI inflow during March 2006 stood at $831 million marking an increase of 200 per cent higher than the same month previous year.
More Stories on : Retailing | Foreign Direct Investment | Readymade Garments
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