Ikea’s Rs.10,500-crore FDI proposal gets FIPB nod
feBureau: New Delhi, Jan 22 2013, 00:03 IST
it decided to liberalise the cap of 51% foreign investment in single-brand retail to 100%. Though there are several companies which have set up shop in India in the single-brand category ever since it was allowed in 2006, Ikea had made it clear that it would enter the Indian market only once 100% foreign direct investment is allowed. Though the government last year allowed up to 51% foreign investment in multi-brand retail also, the number of caveats with which it has come into force may mean a long time before any real investments flow in. In that context investors were closely viewing Ikea’s fate.
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