Some cheer: 100% FDI in single-brand retail notified

Just a few hours after the finance ministry issued a statement allowing French luxury chain Christian Louboutin to open stores in India, the commerce ministry notified the much-awaited policy permitting up to 100 per cent FDI in single-brand retail, up from 51 per cent. That may have been a coincidence, but the industry is gung ho about the opportunity the policy will bring. Retailers are also viewing the development as a signal on multi-brand retail opening in the near future.

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