Govt notifies FDI in Retail, Aviation, Broadcasting & Power Exchanges
The Government notified the cabinet/CCEA decisions on FDI in single brand retail, multi brand retail, civil aviation, broadcasting sector and power exchanges. The decisions were taken in the Cabinet and CCEA meetings on September 14, 2012.
FDI in multi-brand Retail...The Gateway finally Opens: JLL
The recent decision by the Government to allow foreign direct investment in multi-brand retail is understandably the talk of the town. There are various points of view regarding the impact it will have on the retail sector in specific and the Indian economy in general, but the decision is a big step in the direction of strengthening organized retail in the country. To get the complete picture, it is important to understand the situation which exists currently and how the new regulations are going to change the retail landscape.
Till recently, FDI in retail (except under single-brand product retailing, with conditions) was not allowed in India. In other words, for a company to be able to get foreign funding, products sold by it to the general public needed to be of a ‘single-brand’.
The government has now opened a gateway for foreign funding into the sector. In 1997, FDI in cash-and-carry (wholesale) with 100% ownership was allowed under the Government approval route. It was brought under the automatic route in 2006. 51% investment in a single-brand retail outlet was also permitted in 2006. FDI in multi-brand retailing was prohibited in India.
This was changed to increases FDI in single-brand retail to 100% while creating a path for FDI in multi-brand retail to the tune of 51%. Cities with populations of more than 10 million are eligible for this. With yesterday’s announcement, 51% FDI has been permitted in multi-brand retail - with certain caveats, and also subject to final the approval from respective states to allow implementation within these states.
There are still some apprehensions on how this policy will be implemented due to the given caveats. However, it does signify a strong positive outlook for this sector.
The retail sector in India has been plagued with problems at all the areas of its life cycle - back end, technology, supply chain, real estate and human resources. There has been a lack of investment in all of these areas. Consequently, the retail sector has not been able to match the pace of other growing sectors in India. There has been a lack of investment in the logistics of the retail chain, leading to an inefficient market mechanism. Lack of Storage infrastructure has been one of the most alarming of these infrastructure gaps.
The Body Shop opens its 1st store in Siliguri!
The Body Shop, an iconic retailer of cosmetics and toiletries has opened its 1st store in Siliguri to make its world class products accessible to the customers in the state. The Body Shop India has always believed in the importance of redefining retail experience, maintaining the international standards of retailing its products to the customers, and facilitating a world class brand experience at all its stores Pan India.
The Body Shop store located at Cosmos Mall will exceptionally provide the essence of the Brand at its best to all its customers. Look out for exciting offers on all range of The Body Shop products, and free Skin care consultation by internationally trained experts in the first month of its launch. There also will be adequate provision for demo of the product and its various applications for all our valued customers.
The Body Shop products are all naturally inspired and ethically produced beauty and cosmetics products, which are not tested on animals. All The Body Shop products are 100% vegetarian and with over 80% products containing one or two ingredients from our Community Fair Trade partners from all corners of the world.
The Body Shop stores in India have a wide range of products across Skin Care, Bath & Body, Make Up, Hair, Fragrance, Men’s, Gifts, Accessories and many more.
The Body Shop store also provide several specialist services like free make-up tips and make-up application from internationally trained make-up artist. Customers can also seek a quick skin care consultation by filling up a questionnaire to find out their skin type, and receive a recommendation on the treatment range best suited for their skin’s needs.
With the launch of the store The Body Shop aims to expand its customer base in West Bengal and offer world class Customer Loyalty program “Love Your Body”. Customers can now sign up for The Body Shop Loyalty Card at a nominal fee to enjoy fantastic member benefits, year round discounts, member’s special offers and many other privileges all through the year.
The new store offers Fabulous promotions, Free Make up application, skincare and make up consultation and many exciting offers and services at the store.
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