<
Several
foreign and domestic retail companies including Carrefour, Bharti,
Walmart, Tesco, Aditya Birla Group, Reliance, Tatas, Pantaloon and more
met Commerce and Industry Minister Anand Sharma, seeking easing of FDI
norms in multi-brand segment. Retailers were of the view that sourcing
rules should be made similar to that of single brand. They also demanded
for foreign firms to be allowed to put only 50 percent of first part of
investment in back-end infrastructure.
The government on its part said that it would take an early and appropriate view so that the guidelines could be given out accordingly.
As per current FDI policy in the 100 percent FDI allowed retail sector, only 30 percent of products sold by single brand retailers are to be preferably sourced from small and medium enterprises.
SOURCE:http://www.indiaretailing.com/news.aspx?topic=1&Id=7086