51% FDI in retail of single brandsOur Economy Bureau / New Delhi January 25, 2006The Union Cabinet tonight approved 51 per cent foreign direct investment in single-brand retailing. However, all FDI proposals will have to be approved by the Foreign Investment Promotion Board.Briefing reporters after the meeting, Commerce and Industry Minister Kamal Nath said the move to allow FDI in single-brand retailing was a standalone measure and not a prelude to allowing FDI in retail trade across the board.
