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.
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.
The proposals are expected to be part of the new Companies Bill, 2011.
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.
The court will hear the matter on September 6.
The move, which comes at a time when the stock market regulator, the Securities and Exchange Board of India, has overhauled takeover rules for listed companies, will allow acquisitions to be carried out in a smooth manner.
In a bid to make foreign companies engaged in online and direct-to-home business practices in India accountable, the Ministry of Corporate Affairs (MCA) will make enrolment of all such companies with the country's Registrar of Companies (RoC) mandatory.
New Companies Bill to propose equal responsibility of auditors, firms.
All registered companies, both listed and unlisted, which raise public funds through sale of shares will be answerable to the Securities and Exchange Board of India (Sebi).
The saga of buying out high-end office space in Mumbai continues. In a latest development, Mumbai-based education company, Core Projects and Technologies, is in talks with the leading plastic goods maker Supreme Industries to buy out the office property developed by the latter in the Andheri area of Mumbai. The deal could be worth Rs 350 crore (Rs 3.5 billion) in value, said sources close to the development.
As the heat turns on the government on the issue of black money, the Institute of Chartered Accountants of India (ICAI) on Thursday said it would suggest to the finance ministry ways to track and control illicit money.
Brotin Banerjee, managing director and CEO of Tata Housing, shares the company's plans and strategy with Raghavendra Kamath.
All set for more public interactions even as PM has been critical of the apex auditor recently.
Concerned over the frequent leaks of its "half baked reports", the office of the Union comptroller and auditor-general (CAG) has decided to issue different versions of its draft reports -- the ones given for feedback and reactions before the final version is readied -- to ministries and public sector units to nail the sources of leaks.
The apex auditor is busy preparing a report on the Air India-Indian Airlines merger and modernisation of airports through public-private-partnerships, both carried out during the previous term of the United Progressive Alliance government.
MPCB said Indiabulls had started the construction work at the IT Park project in violation of consent to establish and without complying with its directions issued on January 27.
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.
Delegation to insist on flexibility in aiding low-cost access to HIV treatment.
Reliance Retail, which started in 2006, runs over 1,000 stores across 86 cities.
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