Press Esc to close
Friday 20 January 2017
News updated at 2:22 AM IST
Weather
Max: 28.2°C
Min : 14.4°C
In Bengaluru
Sunny day

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
Bollywood actress Soha Ali Khan taking selfie with the newly launched Samsung C9 Pro mobile...

Bollywood actress Soha Ali Khan taking selfie with the newly launched Samsung C9 Pro mobile...

Camel-mounted BSF soldiers participate in rehearsal for the Beating Retreat ceremony...

Camel-mounted BSF soldiers participate in rehearsal for the Beating Retreat ceremony...

Students form a human chain to display VOTE at an awareness campaign Jalandhar...

Students form a human chain to display VOTE at an awareness campaign Jalandhar...

Children holding national flags as they ride on a modified motorcycle ahead of the Republic...

Children holding national flags as they ride on a modified motorcycle ahead of the Republic...

Workers busy installing flower pots as part of the Republic Day Flower show at Glass House...

Workers busy installing flower pots as part of the Republic Day Flower show at Glass House...

Workers busy installing flower pots to make Peacock shape as part of the Republic Day Flower show...

Workers busy installing flower pots to make Peacock shape as part of the Republic Day Flower show...

The final touch work is going in full swing at as part of the Republic Day Flower show at Glass...

The final touch work is going in full swing at as part of the Republic Day Flower show at Glass...

Jagjot Singh Rubal, an Indian artist, gives final touches to a portrait...

Jagjot Singh Rubal, an Indian artist, gives final touches to a portrait...

Members of Hindu Sena, a right-wing Hindu group, place a garland on an poster...

Members of Hindu Sena, a right-wing Hindu group, place a garland on an poster...

PWD labourers paint the statue of Netaji Subhash Chandra Bose at Shymabazar in Kolkata...

PWD labourers paint the statue of Netaji Subhash Chandra Bose at Shymabazar in Kolkata...

Like us on Facebook

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