New Delhi: The Government of India approved 18 foreign direct investment (FDI) proposals worth US$ 173 million in the single brand retail sector during April 2010 and May 2013. Out of these, five proposals worth US$ 137.68 million were approved during the first two months of 2013-14.
Fashion brand Promod, France-based crockery maker Le Creuset, accessories firm Fossil Inc and French sports giant Decathlon are some of the firms which have received approvals to open retail stores under the single-brand retail policy.
The Government had raised the FDI cap in single-brand retail to 100 per cent from 51 per cent in January 2012.
The country also attracted FDI worth US$ 256.7 million in agriculture services during April 2010 and May 2013, said Mr Anand Sharma, Union Minister for Commerce and Industry, Government of India.
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