The Hindu Business Line : Assocham for 49% cap on retail FDI

Industry chamber Assocham has sought foreign direct investment (FDI) in retail to be capped at 49 per cent. In a note sent to the Prime Minister, Dr Manmohan Singh, and the UPA Chairperson, Ms Sonia Gandhi, the Assocham President, Mr V.N. Dhoot, stressed that FDI in retail ought to be encouraged to push up agri, rural economy and generate employment but initially with limited holdings.

The Government has resorted to various routes permitting retail FDI of 100 per cent through cash and carry and franchising route and 51 per cent in single brand that has created confusion in the recent past, according to the chamber.

The chamber further said that organised retail in India was still at a very nascent stage and forms only less than 5 per cent of the entire retail trade and throwing it open to FDI would disorganise the domestic retailers without letting them prepare for foreign competition.

More Stories on : Retailing | Foreign Direct Investment | Industry Associations

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Now, Nokia handsets for gaming

Low-cost carriers viable, say Airbus, others

FM, TV channels produce Hindi chat show

Big 92.7 FM to have 45 stations running by May

FDI and retail — Time to raise shutters

DD receives delayed feed; Nimbus awaits court verdict

Govt amends oil marketing guidelines, control orders

Idea Cellular to focus on customer service

Microsoft organises road show

Assocham for 49% cap on retail FDI

ICICI Bank looking for US partner for remittance biz

New NEC India thin client

Microsoft India ERP tool

Perfumed stamps