TMI BlogAmendment of the existing policy on Foreign Direct Investment in Single-Brand Product Retail TradingX X X X Extracts X X X X X X X X Extracts X X X X ..... ) Foreign Investment in Single Brand product retail trading is aimed at attracting investments in production and marketing, improving the availability of such goods for the consumer, encouraging increased sourcing of goods from India, and enhancing competitiveness of Indian enterprises through access to global designs, technologies and management practices. (2) FDI in Single Brand product retail trading would be subject to the following conditions: (a) Products to be sold should be of a 'Single Brand' only. (b) Products should be sold under the same brand internationally i.e. products should be sold under the same brand in one or more countries other than India. (c) 'Single Brand' product-retail trading would cover only products whi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rmine whether the products proposed to be sold satisfy the notified guidelines, before being considered by the FIPB for Government approval. 2.0 Revised Position: 2.1 The Government of India has reviewed the position in this regard and decided to amend paragraphs 6.2.16.4 (2) (d) 6.2.16.4 (2) (e) of the existing policy. 3.0 Amendment to paragraph 6.2.16.4: 3.1 Accordingly, paragraph 6.2.16.4 of 'Circular 1 of 2012-Conso1idated FDI Policy', effective from April 10, 2012 , is amended, as below: 6.2.16.4 Single Brand product retail trading 100% Government (1) Foreign Investment in Single Brand product retail trading is aimed at attracting investments in production and ma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ds purchased, will be done from India, preferably from MSMEs, village and cottage industries, artisans and craftsmen, in all sectors. The quantum of domestic sourcing will be self-certified by the company, to be subsequently checked, by statutory auditors, from the duly certified accounts which the company will be required to maintain. This procurement requirement would have to be met, in the first instance, as an average of five years' total value of the goods purchased, beginning 1st April of the year during which the first tranche of FDI is received. Thereafter, it would have to be met on an annual basis. For the purpose of ascertaining the sourcing requirement, the relevant entity would be the company, incorporated in India, which is ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
