Press Esc to close
Tuesday 31 May 2016
News updated at 1:48 AM IST
Weather
Max: 28.4°C
Min : 19.9°C
In Bengaluru
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
HP Chief Minister Virbhadra Singh addresses a Youth Congress rally in Mandi ...

HP Chief Minister Virbhadra Singh addresses a Youth Congress rally in Mandi ...

Stranded passengers facing a harrowing time due to 'rail roko' protest by the activists of Hills ...

Stranded passengers facing a harrowing time due to 'rail roko' protest by the activists of Hills ...

Farmers holding a rally against the BJP government on the issue of farmers suicide in Thane ...

Farmers holding a rally against the BJP government on the issue of farmers suicide in Thane ...

People from Biafra State (Nigeria) holding a protest for the release of their leader Nnamdi Kanu ...

People from Biafra State (Nigeria) holding a protest for the release of their leader Nnamdi Kanu ...

A man along with kid displays no-smoking messages on their faces on the eve of 'World No Tobacco Day

A man along with kid displays no-smoking messages on their faces on the eve of 'World No Tobacco Day

Activists of Hills and Tribe Protection Forum block the railway tracks of Diphu railway station ....

Activists of Hills and Tribe Protection Forum block the railway tracks of Diphu railway station ....

Police spray water cannon to disperse BJP members during a protest against congress president Sonia

Police spray water cannon to disperse BJP members during a protest against congress president Sonia

Sunrisers Hyderabad players celebrates with VIVO 2016 IPL champiionship Trophy after winning the...

Sunrisers Hyderabad players celebrates with VIVO 2016 IPL champiionship Trophy after winning the...

Sunrisers Hyderabad Ben Cutting (C) celebrates the wicket of Chris Gayle during the IPL 2016...

Sunrisers Hyderabad Ben Cutting (C) celebrates the wicket of Chris Gayle during the IPL 2016...

Royal Challengers Bengaluru player Chris Gayle raises his bat towards crowd against Sunrisers...

Royal Challengers Bengaluru player Chris Gayle raises his bat towards crowd against Sunrisers...

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