Last week, the union cabinet allowed 100% FDI in single-brand retail without prior government approval and liberalized local sourcing norms. Photo: MintNew Delhi: In the light of the government’s decision to allow 100% foreign direct investment (FDI) in single-brand retail under the automatic route, the share of organised retail in India is expected to rise to 10% by 2020, up from 7% in 2016-17, said a statement from the ratings agency Crisil. “Global single-brand retailers facing growth headwinds in their key geographies will now be more than keen to peg tent in India and those already present could step up investments. The previous sourcing norms were a bottleneck to scaling up of operations,” said Anuj Sethi, senior director at Crisil Ratings. Last week, the union cabinet allowed 100% FDI in single-brand retail without prior government approval and liberalized local sourcing norms.

Source: Mint January 15, 2018 15:00 UTC