Shares of companies engaged in retail business have rallied on the bourses after the government notified 100% foreign direct investment ( FDI) in single-brand retail.
At 10.17 am Koutons Retail up by 11.75%, Provogue (India) up by 10.98%, Shoppers Stop up by 9.04%, Brandhouse Retails up by 8.50%, Pantaloon Retail up by 7.88%, Trent up by 5.45%, Crew B.O.S Products up by 5.07%, Vishal Retail up by 4.98%, and Arvind up by 4.35% on the BSE.
At present, for single-brand retailers, 51% FDI is permitted. Removal of investment cap would help global fashion brands especially from Italy and France to strengthen their interest in the growing Indian market, as per the reports.
The notification has clarified that any foreign retailer setting up shop in the single brand category must source at least 30% from Indian small and medium enterprises ( SMEs), which have a maximum investment in plant and machinery of about Rs5 crore.
....more info
At 10.17 am Koutons Retail up by 11.75%, Provogue (India) up by 10.98%, Shoppers Stop up by 9.04%, Brandhouse Retails up by 8.50%, Pantaloon Retail up by 7.88%, Trent up by 5.45%, Crew B.O.S Products up by 5.07%, Vishal Retail up by 4.98%, and Arvind up by 4.35% on the BSE.
At present, for single-brand retailers, 51% FDI is permitted. Removal of investment cap would help global fashion brands especially from Italy and France to strengthen their interest in the growing Indian market, as per the reports.
The notification has clarified that any foreign retailer setting up shop in the single brand category must source at least 30% from Indian small and medium enterprises ( SMEs), which have a maximum investment in plant and machinery of about Rs5 crore.
....more info