FDI just any time for Multi Brand outlet

Multinational retailers such as Walmart, Carrefour and Tesco may soon be allowed to open stores in India subject to stringent investment norms, sourcing conditions, and cap on number of outlets in big cities. The Department of Industrial Policy and Promotion, or Dipp, is likely to move a proposal seeking cabinet approval for 51% foreign direct investment (FDI) in multibrand retail subject to a minimum investment of $100 million.

In a bid to counter possible political opposition to the move, the proposal gives state governments the final say on whether they wish to have front-end retail stores in their states.