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Govt may filter out FDI in tobacco marketing

Import of cigarettes could also be shifted out of OGL. Foreign cigarette companies could soon find it harder to sell their products in India. The government is looking into a proposal to ban foreign direct investment (FDI) in the wholesale marketing arms of these companies. It is also exploring the possibility of shifting the import of tobacco products from the open general licence (OGL) to the restricted list. Both moves will impact companies like Japan Tobacco International, Philip Morris and others that have set up fully-owned marketing subsidiaries through which they not only sell their ...