eJarn
Username/ID
Plear enter userid
Password      *Forgot Password?
Please enter password
Government Approves US$ 770 Million Foreign Investment Proposals
2017/11/23
During August and September 2017, the Indian government approved 10 foreign direct investment (FDI) proposals worth about INR 50 billion (US $ 770 million) for food product and single brand retail trading, including those of Amazon and Grofers. The clearances were given by the Department of Industrial Policy and Promotion (DIPP), and will give a boost to the cold chain industry.
 
Amazon received the approval to set up a subsidiary company in India with 100% FDI to engage in the business of retail trading of food products manufactured or produced locally. Grofers’ proposal to undertake retail trading, including through e-commerce, of food products manufactured or produced in India with 100% FDI has also been approved. The cleared proposals also include MTR Foods. Grofers is likely to bring in INR 1.6 billion (US$ 25 million) while supermarket Grocery is investing INR 1.05 billion (US$ 16 million) initially and INR 80 billion to 100 billion (US$ 1.2 billion to 1.5 billion) in the next 18 months.
To view the complete content, please log in.
Username/ID
Plear enter userid
Password      *Forgot Password?
Plear enter password