Government notifies 100% FDI in single brand retail

Hundred per cent foreign direct investment in single brand retail has been allowed and it has been made operational with immediate effect. The Commerce Ministry issued a notification to this effect on Tuesday. According to the Ministry press release, this step is aimed at attracting more foreign direct investment in production and marketing of consumer goods apart from improving their availability. The release makes it clear that 100 per cent investment will be allowed only when the products are sold in single brand internationally.