| Date: |
29-07-2011 |
| Subject: |
Retailers Moot Segment-Wise FDI |
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With the Committee of Secretaries recommending 51 per cent foreign direct investment in the retail sector, retailers have sought some changes in FDI norms, especially in the food and non-food sectors.
“FDI should be looked at differently for food and non-food sectors,” retailers said after a meeting hosted by Kishore Biyani, founder & group CEO, Future Group.
Retail CEOs and heads of retail chains met in Mumbai to discuss the issues facing the sector, and how these could be addressed through the annual gathering of the industry — the India Retail Forum (IRF).
The world’s four largest retailers — Wal-Mart, Carrefour, Tesco and Metro — and other groups are seeking to expand in India to tap the increasing spending power of a rapidly burgeoning middle class.
Source : indianexpress.com
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