FDI-hungry govt set to ease single-brand policy
The government is likely to relax local sourcing and brand ownership norms as part of a comprehensive review of the FDI policy for single-brand retail to address concerns of foreign companies, even as a senior government official ruled out the possibility of an IKEA-specific package. The Department of Industrial Policy and Promotion (DIPP) official, who did not wished to be named, said the local sourcing norms could be modified with the 30% requirement applying to costs and not to sales, as currently stipulated.
Read Full Story>>

