Press Esc to close
Thursday 28 August 2014
News updated at 2:51 AM IST
Weather
Max: 24.4°C
Min : 20.1°C
In Bangalore
Generally cloudy

Tesco seeks clarification on FDI policy

Davos, Jan 25, 2013, PTI:

UK-based retail giant Tesco on Thursday sought clarifications from Commerce and Industry Minister Anand Sharma on some of the conditions that India has imposed while allowing foreign players to open stores in the multi-brand retail sector during their meeting here.

"Sharma met Tesco Chairman Richard Broadbent who sought certain clarifications on conditionalities in the new FDI policy for the retail sector," an official statement said.

It said that Sharma has assured all help to the company. "Sharma assured that all the foreign investors will be provided hand holding and asked him to voice their concerns in writing and offered all help if Tesco decides to send a team to the Department for Industrial Policy and Promotion (DIPP) for consultation," it said.


India has imposed certain conditions like foreign retailers planning to enter the multi-brand segment having to invest a minimum of USD 100 million with 50 per cent of it in the back-end infrastructure. The firms will also have to source 30 per cent of their products from MSMEs.

Go to Top

Photo Gallery
Abhishek Bachchan posing next to the Pro Kabbadi League trophy in Bengaluru ...

Abhishek Bachchan posing next to the Pro Kabbadi League trophy in Bengaluru ...

Imran Khan  supporter waves national and party flags during what has been dubbed a 'freedom march ..

Imran Khan supporter waves national and party flags during what has been dubbed a 'freedom march ..

England's Ben Stokes fails to get to a catch during the second ODI against India ...

England's Ben Stokes fails to get to a catch during the second ODI against India ...

Narendra Modi in a meeting with President of Asian Development Bank, Takehiko Nakao in New Delhi ...

Narendra Modi in a meeting with President of Asian Development Bank, Takehiko Nakao in New Delhi ...

Family members mourn during cremation procession of Lance Naik Dhananjay Kumar who was killed ...

Family members mourn during cremation procession of Lance Naik Dhananjay Kumar who was killed ...

Crowd during cremation procession of Lance Naik Dhananjay Kumar who was killed in an encounter ...

Crowd during cremation procession of Lance Naik Dhananjay Kumar who was killed in an encounter ...

Britain's Deputy PM Nick Clegg during the inauguration of the United Kingdom India Business ...

Britain's Deputy PM Nick Clegg during the inauguration of the United Kingdom India Business ...

Dhoni is bowled by England's Chris Woakes during their second one-day international cricket match ..

Dhoni is bowled by England's Chris Woakes during their second one-day international cricket match ..

MS Dhoni bails fly as he is clean bowled by England's Chris Jordan ...

MS Dhoni bails fly as he is clean bowled by England's Chris Jordan ...

A Lord Ganesha idol decorated with 'Laddus at famous Moti Doongari temple in Jaipur ...

A Lord Ganesha idol decorated with 'Laddus at famous Moti Doongari temple in Jaipur ...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bangalore - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523