Centre gets six new FDI proposals for single brand

The Centre on Monday said that it has received six new FDI proposals for single brand in retail, but no decision has been taken.

The new proposals, including from the US, France and the Netherlands, have come in for up to 51 per cent foreign equity participation, Union Commerce and Industry Minister Anand Sharma informed the Lok Sabha in a written reply.

“Six proposals (from Fapa Company, Samoa; Promod SAS, France; Tommy Hilfiger, the Netherlands; NA Pali Europe SARL; Brooks Brother Group, USA and Damiani International, the Netherlands), have been received for single brand retail with up to 51 per cent foreign equity participation,” the minister added.