FIPB to take up Tesco proposal on December 30

Written by fe Bureau | Updated: Dec 24 2013, 06:37am hrs
The foreign investment promotion board (FIPB) will take up the $110-million investment proposal of UK-based retailer Tesco on December 30. The firm, last week, had applied to the department of industrial policy and promotion to set up a 50-50 joint venture with its existing Indian partner Trent, a Tata group firm, to open stores in Bengaluru (Karnataka) and Kolhapur (Maharashtra).