After the UPA regime's move to suspend its decision on foreign direct investment (FDI) in multi-brand retail, the industry is turning nervous about the prospects of single-brand retail as well.
The UK's largest retailer, with revenues of 67 billion pounds, is currently focusing on its existing franchise agreement with the Tata-run Trent.
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.
America's Walmart is likely to be the first overseas chain to enter the $590-billion Indian retail sector, as the the world's biggest retail giant is extending its parternship with Sunil Mittal's Bharti Enterprises.
Almost a year after launching its Rs 1,000-crore (Rs 10-billion) domestic fund, ICICI Venture, one of the largest private equity firms in the country, raised Rs 200 crore (Rs 2 billion) last week, according to sources privy to the development.
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.
Home sales continue to show declining trend in cities such as Mumbai and national capital region because of high home loan rates and property prices.
"I do not think prices can come down because costs are high. We have not seen any decline in prices so far, says Adi Godrej"
When Kishore Biyani- led Future Group opened the 200,000 square feet Home Town store in Mumbai's Vikhroli early last year, it became a symbol of the group's giant-sized ambitions in home solutions.
In India, these global retailers exported goods worth $725 million in 2010. Modern retail constitutes 6.5 per cent of the $435-billion overall Indian retail market.
Residential sales have declined 60-70 per cent in Mumbai due to high property prices and rising interest rates.
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.
Ventures in areas such as insurance, financial services and logistics valued at Rs 4,500-5,000 crore ; company in talks with PE giants KKR and JP Morgan.
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.
After approving 51 per cent FDI in multi-brand retail, the CoS is said to have suggested stringent conditions for foreign retailers such as minimum investment of $100 million.
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