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LATEST NEWS UPDATES | FDI in retail: Foreign retailers in India will be first to start stores, says KPMG-Writankar Mukherjee

FDI in retail: Foreign retailers in India will be first to start stores, says KPMG-Writankar Mukherjee

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published Published on Sep 22, 2012   modified Modified on Sep 22, 2012
-The Economic Times

Foreign multi-brand retailers present in India through cash-and-carry route are expected to roll out consumer facing formats in the short to medium term, a research paper by consultancy firm KPMG said.

The paper said most of the foreign retailers will undertake changes in their cash-and-carry arrangement with their Indian partners. However, single brand retailers would significantly invest in India in the next 12-18 months due to 100% ownership which is allowed.

The KPMG note says that those single brand international retailers already present in India, through a joint venture or franchisee route, may look to re-evaluate these arrangements and acquire control in their Indian venture.

""Allowing foreign investment in retail is definitely a big move by the government, which would positively impact the retail and ancillary industries such as supply chain, manufacturing and agriculture,"" the note said.

KPMG feels opening up of multi-brand retailing will assure international retailers about the long term opportunity for retail in India, which will encourage investment in the front-end retail, supply chain and wholesale.

As of now, only states run by the ruling party at the Centre have explicitly supported the government's FDI move which translates to nine states, within which there are 20 cities with population of over one million where foreign retailers can set-up their stores.

The Economic Times, 20 September, 2012, http://economictimes.indiatimes.com/news/news-by-industry/services/retailing/fdi-in-retail-foreign-retailers-in-india-will-be-first-to-start-stores-says-kpmg/ar


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