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.

(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.


This article is closed for comments.
Please Email the Editor


Exchange Rate

Dollar Spot Forward Rate

Open-Ended Mutual Funds

MCX-SX Currency Futures

NSE Currency Futures



Recent Article in Companies

Govt seeks Rs 15,546-cr fuel subsidy from upstream companies

Indian Oil Corp (IOC) will get Rs 8,107 crore from upstream firms in fuel subsidy support for the first quarter, while Hindustan Petrole... »

Comments to: Copyright © 2014, The Hindu Business Line.