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India Moves to Attract Retailers

Last week, the Indian cabinet approved a 51 percent FDI in multi-brand retailing and a 100 percent FDI in single-brand retailing, opening the door for hypermarkets and supermarkets such as Wal-Mart and Tesco. Global retailers are waiting for a consensus o

Global retailers are waiting for a consensus on the cabinet's plan to be reached in the Indian parliament.

The legislation would open the retail sector in 53 cities each with a minimum population of one million. Big Bazaar, a chain of hypermarkets owned by the India-based Future Group, has already introduced the format to the territory, opening over 120 outlets in less than 10 years.

The proposed FDI policies require a minimum investment of $100 million with at least 50 percent investment in back-end infrastructure such as cold storage, distribution, and logistics infrastructure across the country. Local sourcing requirements are included in the plan as well.

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