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Delhi Wine Club
 

Posted: Friday, August 01 2008. 11:59

No Relaxation for FDI in Retail

India has no plan to ease the norms for foreign equity in the burgeoning retail trade industry, Commerce Minister Kamal Nath said in Delhi on Thursday after his return from a failed WTO negotiation in Geneva.

"There is no plan now to ease (foreign direct investment) norms in retail," Kamal Nath told reporters in Delhi.

At present single-brand foreign retailers in India are allowed to take up to 51 percent in a venture with a local firm.

No foreign equity, however, is permitted in multi-brand retailing - a demand by global majors like Wal-Mart, Costco, Tesco and Carrefour. These companies are only allowed to give logistical support and back-end operation support  to domestic multi-brand retail companies.

In a government instituted report, the economic think tank ICRIER had suggested that the big organised retail chains would affect the small mom and pop type kirana shops but the impact would gradually wear off. The government has taken an opposite stand, at least for now.

The mini-ministerial meeting and talks in Geneva had  broken down on July 29.

   

Comments:

 
Posted By : Subhash Arora
September 09, 2008 13:20
Unfortunately, the excise laws do not permit sale of wines through retail outlets except to those that are licensed to sell wine and liquor. The policy has ben announced in principle but due to political roadblocks the government has so far not implemented the policy yet. Hopefull, it will be soon, though.
   

Posted By : Jasneet Kaur

September 05, 2008 17:37

Hi I work with a leading retail chain and wish to know if a convenient store can apply for Wine Selling license in Delhi? Regards Jasneet

   
       

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