When IKEA's CEO & India's industry minister sealed a deal in-principle last year, foreign investors took note.
Three foreign single-brand majors apply in the past one month.
Agenda for FIPB meeting on Jan 18 doesn't mention its application.
DEA official writes to DIPP suggesting that govt needs to understand what has been left out, and why, in the revised application of the retailer.
The Walmart investigation is under the Foreign Corrupt Practices Act, and the company follows a global compliance programme in every country it operates in.
Eighteen of 30 product categories proposed by Swedish furniture major struck off.
Both India and China are in Phnom Penh to participate in the two-day East Asia Summit, an offshoot of the Asean meet. China and India, along with the US, Russia, Australia, New Zealand, Japan and South Korea are participating countries in EAS, besides the 10 Asean members.
Part of the official delegation accompanying Prime Minister Manmohan Singh to the Association of South East Nations summit in Phnom Penh, Cambodia, he was briefing the media on board the aircraft earlier on Sunday.
A recent public interest suit in the Supreme Court over foreign direct investment (FDI) in retail may have thrown the industry into a tizzy, but lawyers, constitutional experts and government officials indicate the multi-brand retail FDI policy is unlikely to get derailed over Fema.
Since 2004, licences have been given to develop as much land in the area as in the entire state during the earlier 25-odd years.
Revamped menus and menu-cards, uniforms and store interiors have been readied in tieup with designer Rina Dhaka for the 12-year-old Barista, which was taken over by Italian coffee major Turin-based Lavazza in 2007.
Lower minimum area of land required for multi-product SEZs to 250 hectares from 1,000.
The accounting and audit fraternity clearly wants to disassociate itself from the DLF-Vadra saga.
Audit firm points out that the accounting rules do not permit companies to give interest-free loans even to their subsidiaries.
Leading corporate lawyers and accounting firms have swung into action to interpret the grey areas in the multi-brand retail FDI policy and suggest follow-up action to clients before they start striking deals.
According to experts, the company might be trying to ape Amazon, the largest e-commerce player in the world.
Walmart's JV with Bharti hinges on policy clarity
Many bureaucrats have in the recent past switched sides to join companies.
At least half a dozen such applications, including those from Celio, Gruppo Coin and Artsana, are in the works and are expected to be sent to the government in a few weeks.
The world's largest retail chain, the $446-billion Walmart, is likely to be the first international player to take off in India with its supermarket format. The Bentonville-based US giant is, in fact, ready with a network of 195 stores across India if it decides to extend its back-end and cash-and-carry partnership with Bharti Enterprises to front-end retail.
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