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Government eases FDI rules for foreign single brand retailers

August 29, 2019
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The government has eased foreign direct investment (FDI) rules for foreign single brand retailers. This will provide various opportunities for brands such as Apple, One Plus, Oppo and Vivo among others in India. Furthermore, 100 per cent FDI in contract manufacturing under automatic route has been approved to boost domestic manufacturing.

As per the government, the move will lead to greater flexibility and ease of operations for single brand retail trade (SBRT) entities and will also create a level playing field for companies with higher exports in a base year.

Further, the government has allowed online sales prior to opening of brick and mortar stores, bringing the policy in sync with current market practices. Moreover, all procurements made from India by the SBRT entity for that single brand would be counted as local sourcing, irrespective of whether the goods procured are sold in India or exported, the government said. It has also planning to remove the current cap of considering exports for five years only, to give an impetus to exports.

Meanwhile, the India Cellular and Electronics Association (ICEA) has welcomed the reform However, it is not in support of FDI in multi-brand retail trading because of India’s socio-economic structure.

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