The retail giant tries to strengthen its e-commerce presence, sensing competition globally
The group would start its India journey with stores in Mumbai and New Delhi.
Analysts say July 23, 2011, was like a red letter day for foreign investors when the Committee of Secretaries, headed by Cabinet Secretary Ajit Kumar Seth, recommended opening up the multi-brand retail trade.
Flipkart, founded by two former Amazon executives, Binny Bansal and Sachin Bansal, has been a talking point vis-a-vis Amazon's strategy in India.
Clause on 30% sourcing from Indian SMEs a particular concern.
It's not just the high street across India that will feel the pinch of the weakening rupee against the dollar.
Cabinet nod not required after commerce ministry approval.
International single-brand retail companies are likely to shift to a new fee-based local partnership format in India from the present equity-sharing model, once the revised policy on foreign direct investment in this segment takes effect.
A rollback or dilution of the policy is not the only fear these multinationals have; they are also facing upfront political opposition.
Cap in single-brand retail likely to be 74%.
Amrop believes the economic slowdown will not have a long-term impact on its business, but maybe on technology.
The officials say no "concrete move" has yet been taken to take the matter to the Union cabinet for approval after the recommendation of the Committee of Secretaries (CoS) on July 22 to allow 51 per cent FDI.
Unitech has already tied up with hospitality chain Carlson for the Gurgaon property, and with Marriott for both the Noida and Kolkata hotels.
DLF is to divest non-core assets, including hotels and plots of land, but not Hilton JV, Delhi Aman.
The real estate industry is divided over the impact of the proposed foreign direct investment (FDI) in multi-brand retail.
Early signs show firms rather lukewarm on entry; global economic climate, riders to FDI opening may be dampener.
With the American economy still recovering with the market reaching full potential, US companies like Abercombie is planning to tap emerging markets for luxury buys.
A Central Bureau of Investigation (CBI) official said the agency would soon call Malaysian businessman T Ananda Krishnan for questioning. Maxis is part of the business empire of Krishnan, who is expected to soon fly to New Delhi.
Ananjan Mitter, partner at ALMT Legal, a law firm, has represented Air Charter Service in the venture's application to the Foreign Investment Promotion Board, a key wing in the finance ministry that vets foreign direct investments proposals of companies.
The Planning Commission is expected to take a call soon on the expenditure, which will be a component of the health ministry's 12th plan allocation. The ministry is expected to pitch for doubling the allocation for the overall health sector, it is learnt.
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