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FDI norms eased for single brand retail, digital media, manufacturing

Exports to be factored in to meet 30% domestic sourcing norm

Piyush Goyal, Prakash Javadekar

Union Railways Minister Piyush Goyal along with Union Minister of Environment, Forest and Climate Change Prakash Javadekar addresses a press conference | PTI

Subhayan ChakrabortyArup Roychoudhury New Delhi
The Union Cabinet on Wednesday relaxed the rules for single-brand retail, more than seven years after the foreign investment cap was removed for the segment to attract marquee foreign brands such as Gucci, Louis Vuitton, Ikea and others into the country. The latest government move is in line with the recent Budget announcements on FDI changes.

While 30 per cent local sourcing remains a mandatory condition for single-brand retail, the government has now agreed to a long-standing industry demand to make things easier for foreign retailers. With the change, foreign retailers’ India buy for exports will be factored in to meet

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First Published: Aug 29 2019 | 12:44 AM IST

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