<p>The government today cleared three FDI proposals worth Rs 106 crore in single-brand retail, including that of America's oldest clothing retailer Brooks Brothers and UK's footwear chain Pavers England.<br /><br /></p>.<p>The foreign investment proposal by Italian jewellery brand Damiani to set up a 51:49 joint venture with Mehta's Pvt Ltd also got the government's approval, sources said.<br />The proposals were cleared by the Foreign Investment Promotion Board (FIPB) headed by Economic Affairs Secretary Arvind Mayaram.<br /><br />After the meeting, Mayaram said that the proposal of Pavers England has been cleared.<br />Sources said the footwear retailer plans set to invest Rs 100 crore.<br /><br />At present, the UK-based firm sells products through its Chennai-based master franchisee Triton Retail in 28 exclusive stores across India and also through retail outlets of Reliance Footprint, Lifestyle, Shoppers Stop and Westside.<br /><br />Meanwhile, a senior official said that Brooks Brothers has been given permission to invest Rs 6.22 crore in its recently announced 51:49 joint venture with Reliance Brands, a unit of Reliance Industries.<br /><br />Earlier in June, Reliance Brands had said, "We will be looking at opening five stores over the next three seasons, starting with Fall-Winter 2012 running through Fall-Winter 2013."<br />The company is targeting Mumbai, New Delhi, Bangalore, Chennai and Chandigarh. <br /><br />Brooks Brothers introduced the first ready-to-wear suits in 1845. Its flagship store is at Madison Avenue, New York City, a location it has held for almost a hundred years.<br />Damiani India's proposal is to bring in FDI worth Rs 35.7 lakh.<br /><br />Ever since the government liberalised the foreign direct investment policy to allow 100 per cent FDI in single-brand retail in January, a large number of global retailers have expressed interest to set up stores in India.<br /><br />Under the earlier regime of up to 51 per cent FDI, the country had managed to attract only about Rs 200 crore worth of investment in the past three-and-a-half years in the segment.</p>
<p>The government today cleared three FDI proposals worth Rs 106 crore in single-brand retail, including that of America's oldest clothing retailer Brooks Brothers and UK's footwear chain Pavers England.<br /><br /></p>.<p>The foreign investment proposal by Italian jewellery brand Damiani to set up a 51:49 joint venture with Mehta's Pvt Ltd also got the government's approval, sources said.<br />The proposals were cleared by the Foreign Investment Promotion Board (FIPB) headed by Economic Affairs Secretary Arvind Mayaram.<br /><br />After the meeting, Mayaram said that the proposal of Pavers England has been cleared.<br />Sources said the footwear retailer plans set to invest Rs 100 crore.<br /><br />At present, the UK-based firm sells products through its Chennai-based master franchisee Triton Retail in 28 exclusive stores across India and also through retail outlets of Reliance Footprint, Lifestyle, Shoppers Stop and Westside.<br /><br />Meanwhile, a senior official said that Brooks Brothers has been given permission to invest Rs 6.22 crore in its recently announced 51:49 joint venture with Reliance Brands, a unit of Reliance Industries.<br /><br />Earlier in June, Reliance Brands had said, "We will be looking at opening five stores over the next three seasons, starting with Fall-Winter 2012 running through Fall-Winter 2013."<br />The company is targeting Mumbai, New Delhi, Bangalore, Chennai and Chandigarh. <br /><br />Brooks Brothers introduced the first ready-to-wear suits in 1845. Its flagship store is at Madison Avenue, New York City, a location it has held for almost a hundred years.<br />Damiani India's proposal is to bring in FDI worth Rs 35.7 lakh.<br /><br />Ever since the government liberalised the foreign direct investment policy to allow 100 per cent FDI in single-brand retail in January, a large number of global retailers have expressed interest to set up stores in India.<br /><br />Under the earlier regime of up to 51 per cent FDI, the country had managed to attract only about Rs 200 crore worth of investment in the past three-and-a-half years in the segment.</p>