The company, now a part of the BBC Worldwide family, is eyeing the projected magic figure of 50 million outbound travellers (Indians travelling abroad) by 2020.
Group's hybrid direct selling format also confuses industry
Even as the Centre is working overtime to roll out FDI in retail while the real decision might rest with the states, Arvind Singhal, chairman, Technopak Advisors, often referred to as the poster boy of the Indian retail sector, said the so-called big-ticket measure was "not the most important thing"for the sector.
Brand name rule might be waived for Swedish major's mega investment proposal, indicates DIPP; final revision of its application likely by end-August.
The world's largest coffee chain, Seattle-based Starbucks, is close to hiring its India head. Tata Starbucks Limited, the $10.7-billion American group's joint venture with Tata Global Beverages, has zeroed in on Virag Joshi as managing director for India operations, according to market sources.
The first IKEA store in India is unlikely to come up during the second term of the United Progressive Alliance government, which ends in May 2014, as the euro 25-billion Swedish furniture major takes "years" to set up shop in a new country after securing the necessary approvals.
While raising the foreign direct investment limit to 100 per cent in the single-brand retail segment six months earlier, the government asked retail chains with over 51 per cent foreign investment to source at least 30 per cent of the value of products sold in the country from Indian small/village/cottage industries, artisans and craftsmen.
Analysts and venture capitalists say Flipkart making considerable losses on book transactions.
General sentiment that slowdown and dip in investor sentiment won't affect rationale for expansion
The oil companies raised petrol prices by Rs 7.50 on Wednesday, a tough but unpopular decision which many see as a strong signal from the government that it's now stepping on the reform pedal.
Even as the Telecom Regulatory Authority of India is being criticised for the steep reserve price it has set for 2G spectrum auctions in the 1,800 MHz band, the government may be able to garner only Rs 18,000-20,000 crore (Rs 180-200 billion) in 2012-13, just about half the target of Rs 40,000 crore (Rs 400 billion).
Fred DeLuca, founder and CEO of restaurant chain Subway, started a sandwich shop 'Pete's Super Submarine' at Bridgeport (Connecticut) when he was 17.
The company had set up its first store in New Delhi 12 years ago through the franchisee route, and it remains the only one in India from its stable so far.
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.
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