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In a move that is expected to attract top dollar, the government on Monday allowed Seattle-headquartered online giant Amazon to open fully-owned brick-and-mortar stores to sell food products in India. This is the first foreign direct investment (FDI) proposal for setting up “food-only” retail outlets that the government has permitted. It also happens to be the first FDI case to get an in-principle clearance after the Foreign Investment Promotion Board (FIPB) was shut down recently.
In its January application to the Department of Industrial Policy & Promotion (DIPP), the American major had proposed to invest $515 million in
