September 17, 2012

Indian government allows 51% in FDI multi-brand retail

The Indian government has given its nod to foreign direct investment of upto 51% in the multi-brand retail segment.

By admin-demo

The Indian government has given its nod to foreign direct investment of upto 51% in the multi-brand retail segment.

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Foreign multi-brand retailers such as Walmart, Tesco and Carrefore can now own upto 51% of their investments in India, paving way for their greater entry into the Indian retail market.

Strict regulations thus far allowed only wholesale joint ventures in the country.

Indian Prime Minister Manmohan Singh said the Cabinet has taken the decision to bolster economic growth and make India a more attractive destination for foreign investment.

"I believe that these steps will help strengthen our growth process and generate employment in these difficult times," Singh said.

The decision comes with conditions including: foreign retailers will only be allowed to set up in cities with a population of more than 1 million and mandatory sourcing of 30% of their requirement from small and medium enterprises.

Major retailers such as Tesco, Carrefour and Walmart, have been hoping to set up shops in India and welcomed the government’s policy directive.

In 2008, Tesco had invested £60m in a cashand-carry joint venture with Indian conglomerate Tata to gain a foothold in the country in anticipation of favorable changes in regulations

Wal-Mart India president Raj Jain was quoted by Reuters as saying that, "We are grateful that the government has realised and appreciated the value that we will bring to strengthen the Indian economy."

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Walmart: Going Beyond Company Disclosures

Walmart has rounded out its fiscal year with a strong set of numbers that show it has taken supply chain disruption, rising costs, heavy inflation, and various other problems in its stride. There is comfortable growth on both the top and bottom lines, which is extremely respectable given tough prior year comparatives. Walmart hiring is slowing down as compared to hiring in the months of April and March in 2022. Walmart posted close to 40,000 vacancies in March and 30,000 in April, which has gone below 10,000 in June 2022. Walmart Company Filings has most of the mentions related to the ESG and COVID-19 themes in 2021. ESG has more than 300 mentions in the company’s 2021 filings which indicates the rising focus on ESG-related issues. Our report on Walmart: Going Beyond Company Disclosures, demonstrates GlobalData Explorer’s ability to:  
  • Track and monitor a company’s movements through alternative indicators to gain insights into the strategy before it is disclosed by the company
  • Gain insight into a company’s capital deployment strategy, by assessing historical deal volumes and specific transactions executed by the company, in addition to identifying sectors of focus
  • Go beyond basic financial information, to access key industry-relevant indicators for a company and how these have progressed over time
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
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