The Indian Government has received six proposals from foreign companies to start single-brand retail operations with 51% ownership, Union Commerce & Industry Ministry said on Monday.
Retailers who have applied to the Government for 51% single-brand retail operations include Tommy Hillfiger, Brooks Brother Group, Italian jewellery brand Damiani International, French fashion brand Promod SAS, Fapa Company Ltd. and NA Pali Europe SARL.
Many of these retailers are already present in India via licensing and joint-venture partnerships with Indian retailers, reports said.
The Government has not taken a decision on these proposals, Jyotiraditya Scindia, junior Commerce & Industry Minister, said in parliament today.
Eight states, including Delhi, Maharashtra, Haryana and Andhra Pradesh, have expressed their support for FDI in multi-brand retail, Scindia said.
The Commerce & Industry Ministry said today that no decision has been taken on modifying the domestic sourcing norms.
In January this year, the Government allowed foreign retailers to set up wholly-owned operations in India, but a clause on local sourcing has discouraged these firms from applying for full ownership.
Only Ikea and Pavers England have applied so far for 100% single-brand retail presence in India.