$259 mn FDI in single-brand retail since 2010

India has received $259 million in foreign direct investment (FDI) in single brand-retail since April 2010, the government said Tuesday.

"During April-September 2014, the country received $167.52 million FDI in single-brand retail sector," Minister of State for consumer affairs, food and public distribution Raosaheb Patil Danve said in a written reply to the Lok Sabha.

FDI of $11.30 million was received in the last fiscal, he added.

The ministry is currently processing six FDI proposals in the single-brand retail sector, the minister told parliament last week.

Danve also said the government had not taken a decision on allowing foreign investment in multi-brand retail trade.

"No application for FDI in multi-brand retail trading is pending," he said.

FDI in single-brand retail was increased to 100 percent from 51 percent in early 2012.

According to official data, 18 proposals worth $173 million were approved between April 2010 and May 2013.

The rules permit 100 percent FDI in single brand retail and 51 percent in multi-brand retail trading.