FDI IN RETAIL SECTOR
Date : 27 Jul 2009
Location : New Delhi
The extant policy does not permit Foreign Direct Investment (FDI) in retail trading. The policy only allows FDI up to 51% in retail trading of single brand products, subject to the following conditions:
i Products should be sold should be of a single brand only
ii Products should be sold under the same brand internationally
iii Single brand product retailing would cover only products which are branded
As per the study conducted by the Indian Council for Research on International Economic Relations (ICRIER), on the subject ‘Impact of Organised Retail on unorganised Sector’, the retail business is estimated to grow at 13% per annum from US $ 322 billion in 2006-07 to US $ 590 billion in 2011-12.
This information was given by Shri Jyotiraditya M Scindia, Minister of State for Commerce & Industry, in a written reply in the Lok Sabha today.