New Delhi -- An Indian official said Thursday that India’s Cabinet will investigate allegations that Wal-Mart Stores Inc. broke rules as it lobbied to make its retail market debut in the country. According to Manish Tewari, information and broadcasting...
Ikea is withholding its entry into India in spite of New Delhi's move to open its market to foreign retailers as the Swedish homewares company accelerates its expansion in other BRIC countries.
New Delhi, India -- A Tuesday report by Bloomberg said that the Indian government has ratified a Nov. 24 cabinet decision to raise the ownership limit to 100% from 51%, which will allow foreign single-brand retailers to open stores in the world’s second-most populous nation without local partners. The caveat is that the companies will need to buy 30% of the value of products sold from domestic small and cottage industries. According to Bloomberg, the decision is the first major change to Indian foreign ownership rules in more than five years after Prime Minister Manmohan Singh last month reversed
New Delhi, India -- A Monday report by Bloomberg said that an Indian governmental panel recommended easing market-entry restrictions, making Wal-Mart Stores’ and Carrefour SA’s path into the India retail market potentially much easier. Citing a finance ministry official as its source, Bloomberg reported that a panel of New Delhi bureaucrats recommended on Friday that overseas companies be allowed to own up to 51% of stores that sell more than one brand if they invest a minimum of $100 million. “It would get in new players to the market -- you’d have more efficiencies coming in,” Abhishek Ranganathan, a
New Delhi, India — India will announce new rules for foreign investment in retail by April 2012, which would pave the way for such retailers as Wal-Mart Stores, Carrefour SA and other large chains to open stores in the country, Bloomberg reported.
Italian fashion retailer Benetton Group S.p.A. has introduced a global retail concept in India, with the opening of a new outlet at Connaught Place in New Delhi. Located at Hamilton House, the design concept blends the retailer's brand identity with the historical elements of the Indian capital. The new Benetton furnishings include big metal or wooden boxes, wardrobes on castors and tables in natural shapes. Rails, shelves and hanging systems resemble large, light, sophisticated 50s-style bookcases, which are designed to showcase Benetton apparel and accessories. Spanning three floors, the store also unveils the new spring/summer collection 2011, which includes