India considering proposal from Swedish firm Ikea: Sharma
October 28th, 2010 - 10:26 pm ICT by IANS
By Minu Jain
Hanoi, Oct 28 (IANS) India is looking at a proposal to allow foreign equity in the multi-brand retail industry, including a proposal from Swedish home furnishing giant Ikea for 100 percent venture in the country, Commerce Minister Anand Sharma said Thursday.
India allows FDI (Foreign Direct Investment) in single brand retail up to 51 percent but has been under pressure from retailers to allow for higher quantum of FDI.
A consultation paper on the issue has been placed in the public domain, Sharma said, adding that the government was taking the opinion of farmers cooperatives, industry associations and the like.
“I believe in a policy that is inclusive and transparent,” the minister told reporters, as he arrived here accompanying Prime Minister Manmohan Singh on the last leg of a three-nation tour.
On defence FDI, Sharma said consultations were on in the defence ministry to raise FDI from 26 percent to 49 percent.
“Whatever we agree on, will also be on a case to case basis,” he said, adding that there was a misconception that Defence Minister A.K. Antony was opposed to the proposal.
- 'Efforts on to allow FDI in multi-brand retail' - Mar 16, 2012
- Farmer association supports FDI in retail - Dec 22, 2011
- Finance ministry okays FDI in multi-brand retail - Nov 17, 2011
- Government looking at FDI in multi-brand retail: Sharma - Apr 27, 2010
- Foreign investment cap hike likely in single brand retail: Anand Sharma - Oct 31, 2011
- Anand Sharma writes to parties clarifying FDI stance - Nov 28, 2011
- Uproar in Rajya Sabha over FDI decision, house adjourned - Nov 25, 2011
- Will decide on opening multi-brand retail to FDI: Sharma - Aug 03, 2011
- Ally Trinamool joins BJP, Left in opposing FDI in retail - Nov 24, 2011
- We will protect shopkeepers against FDI: Karat - Jan 20, 2012
- Recall of retail FDI regressive, disappointing: India Inc (Roundup) - Dec 07, 2011
- India allows 100 percent FDI in single brand retail - Jan 10, 2012
- 'FDI in multi-brand retail a bold step by PM' - Nov 25, 2011
- Sharma to reveal states which supported FDI in retail - Dec 03, 2011
- Industry feels let down with recall of FDI in retail - Dec 07, 2011
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