SEARCH

Ratan Tata hails Govt move on FDI in retail

K. R. Srivats
Share  ·   Comment   ·   print   ·  
Mr Ratan Tata
Mr Ratan Tata

Tata Group Chairman Ratan Tata has hailed the Government’s move to allow foreign direct investments in multi-brand retail.

This clearance will enhance the image of India amidst foreign investors and will signal that India is on the move again, Tata said in a letter to Commerce and Industry Minister Anand Sharma.

Tata has also recognised Anand Sharma’s efforts in achieving this “long overdue goal despite tremendous political resistance from vested interest sections”, sources said.

This letter comes close on the heels of the Government decision of Friday’s to modify the FDI policy so as to enable up to 51 per cent foreign holding in multi-brand retail.

Simply put, the Centre has now thrown open the gate for foreign supermarket chains to own and operate stores in India.

srivats.kr@thehindu.co.in

(This article was published on September 15, 2012)
XThese are links to The Hindu Business Line suggested by Outbrain, which may or may not be relevant to the other content on this page. You can read Outbrain's privacy and cookie policy here.

Comments:

This article is closed for comments.
Please Email the Editor

DATA BANK

Exchange Rate

Dollar Spot Forward Rate

Open-Ended Mutual Funds

MCX-SX Currency Futures

NSE Currency Futures


O
P
E
N

close

Recent Article in Companies

Ghaziabad court case: Samsung has to fight on its own for now

DIPP ready to supply information Korean firm needs to fight fraud case »

Comments to: web.businessline@thehindu.co.in. Copyright © 2014, The Hindu Business Line.