Govt may relax FDI norms for muti-brand retail tomorrow

Jul 31 2013, 22:31 IST
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SummaryRetailers like Walmart, Tesco and Carrefour are demanding to ease norms.

and if so, till what period?," said a source.

The MSME Ministry has, however, opposed the DIPP's move to let players continue sourcing items from small and medium units without a time cap even after crossing a minimum investment limit.

Retailers are demanding that sourcing rules in multi- brand retail must be made similar to that of the single-brand segment, and foreign firms be allowed to put only 50 per cent of the first tranche of the investment in the back-end infrastructure.

The cabinet may also consider allowing global chains to open multi-brand stores in cities with population less than one million.

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