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DIPP approves FDI proposal for single-brand retail sector

Press Trust of India  |  New Delhi 

The Department of Industrial Policy and Promotion (DIPP) today said it has cleared a proposal of FZCO in the single-brand retail sector.

"Proposal of FZCO for acquiring 51 per cent of the equity capital of Pvt Ltd and for addition of handbags, cosmetics and jewellery/imitation jewellery to the list of products approved in the previous approval," according to the DIPPs Foreign Investment Facilitation portal.

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

into the country grew 9 per cent to USD 43.47 billion in 201617.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, November 10 2017. 22:57 IST