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Govt approves five FDI proposals in single brand retail sector

FDI into the country grew 9 per cent to $43.47 billion in 2016-17

Press Trust of India  |  New Delhi 

FDI
Photo: Shutterstock

The government has approved five foreign direct investment proposals, including that of Oppo Mobiles India and Louis Vuitton Malletier, in the single brand retail sector, according to the (DIPP).

The other FDI proposals approved by the government include ($8.62 million), Daniel Wellington AB ($10 million) and

Actoserba Active Wholesale's application was made for single brand retail trading (SBRT) of brand in addition to existing business of wholesale.

Oppo Mobiles India has got the nod to undertake SBRT of OPPO brand, in addition to existing business of wholesale, according to the DIPP's Foreign Investment Facilitation portal.

This portal was set up after the winding up of the foreign investment promotion board.

The portal showed that has been advised to approach through automatic route for its FDI proposal.

FDI into the country grew 9 per cent to $43.47 billion in 2016-17.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Tue, October 03 2017. 20:57 IST
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