No proposal on FDI in multi-brand retail received so far

PTI : New Delhi, Tue Feb 26 2013, 21:34 hrs

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Government today said it has not received any proposal related to foreign direct investment in multi-brand retail so far.

"No proposal has been received for FDI in multi-brand retail," Consumer Affairs, Food and Public Distribution Minister K V Thomas said in a written reply to the Lok Sabha.

The government has permitted FDI up to 51 per cent in the multi-brand retail trading last year.

He also said that since 2006, 66 proposals, including that of GAS, Diesel Fashion, Hallmark Group, Nokia Corporation, Pavers and Damiani, in the single brand retail have been approved by the government.

He added that the government has received 12 proposals including Tommy Hillfiger and Ingka Holdings over which it has not taken a decision.

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