FIPB to take up Tesco proposal on December 30

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SummaryThe foreign investment promotion board (FIPB) will take up the $110-million investment proposal of UK-based retailer Tesco on December 30.

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).

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