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.
RIL had earlier decided not to pursue the cash-and-carry model due to a number of reasons, including a growing unrest towards organised retail.
As against the 2007 target of 10-15 stores in seven years, it is planning to touch around 25 cash and carry outlets in India by the end of 2012.
Formulation of food recall procedures in case of unsafe or hazardous products, mandatory compliance with GAP (good agricultural practices) for big retailers, labelling changes for packaged food items, organic food certification, setting water quality standards and verification of claims by food supplement companies are among the major reforms being planned by the sector regulator and the government.
Concept of a real estate Bill has been around in the government for almost 10 years now.
The draft report of the Public Accounts Committee (PAC) of Parliament is understood to have asked the UPA government to quantify the loss to the exchequer from the 2G scam and recover it from companies that benefited from this.
Unitech founder and chairman Ramesh Chandra gets into office at 9.30 am every weekday and leaves at 4 pm sharp. That has been the work schedule for Chandra, 70, over several years, perhaps decades.
The pilot scheme to develop satellite towns around seven mega cities will spill over to the 12th Plan period (2013 to 2018), as against the original deadline of April 2012.
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