The foreign trade policy defines a 'group company' as an entity that directly or indirectly can exercise 26% or more of voting rights in the other enterprise or appoint more than 50% of board members.
IKEA has asked the govt to reconsider the decision to bar it from selling several products in its proposed stores in India and wants its original proposal to be cleared in entirety.
Clarks is testing e-commerce as well as a franchisee option to boost sales in India. It recently opened its first franchisee store in Guwahati.
“The mood in the country and outside is much better and if we are able to get more reforms through, then 2013-14 will be a different year,” Godrej told ET.
Marks & Spencer will revamp all its stores in India by redesigning its outlets, prominently displaying its various sub-brands and increasing vibrant product offerings.
Walmart is demanding anti-bribery undertakings from landlords of its Indian stores along with rights to inspect their books.
Philip Clarke made a hush-hush visit over the weekend and met Ratan Tata and other Tata officials to set the ball rolling on the retailer's India plans.
Retailers like Spencer's, Future Group & others exit loss-making regions, focus on potential growth markets
"Every retailer has to see what works for them and what not and if things don't work out in any city, it is better to exit," Rajan Malhotra of Future Group said.
The Indian unit of Walmart has not flouted any domestic laws and its internal probe is a routine exercise, a top executive of the co told employees.
Bharti Walmart will go slow on planned rollouts of its cash-and-carry stores until investigation into violations of FCPA are over.
- No blogs yet have been written by the author, we’re sure the author will contribute one soon