In a raft of foreign direct investment (FDI)
reforms released last Friday, Indias Cabinet announced it
would permit multi-brand retail on a state-by-state basis.
Heres what it means for investors.
The new FDI norms, which have only been released via press
release, allow foreign investors to own up to 51% of joint
ventures in multi-brand retail. Multi-brand retailers include
all retailers that sell more than one brand, including global
giants such as Tesco and Wal-Mart.
Counsel assert that the changes if they
weather protests will prove that Indias financial
system is no longer afflicted by regulatory uncertainty.
The introduction of FDI in multi-brand retail was
unexpected. It had been announced in November 2011, but was
later retracted because of political opposition from...