AUSIB applauds possibility of 51% FDI in Indian multi-brand retail; urges India's Commerce Minister to expedite approval and implementation

The Alliance for US India Business (AUSIB) welcomes the approval by the Committee of Secretaries to allow up to 51% Foreign Direct Investment (FDI) in multi-brand retail in India.

Pune, Maharashtra, August 23, 2011 /India PRwire/ -- The Alliance for US India Business (AUSIB) welcomes the approval by the Committee of Secretaries to allow up to 51% Foreign Direct Investment (FDI) in multi-brand retail in India. AUSIB urges India's Ministry of Commerce and the Cabinet to swiftly provide the final approval that could open up large investment opportunities for global retail players in India. US companies and policy-makers have been awaiting the opening up of the retail sector for sometime now.

AUSIB President, Mr. Sanjay Puri congratulated the Committee of Secretaries on their decision and said, "Liberalizing the FDI policy in the retail sector had been a highlight of the meeting between Secretary Geithner and Finance Minister Mr. Pranab Mukherjee last month. Many US companies and investors have also been looking forward to a relaxed FDI policy in Indian retail, and we believe that this policy change will significantly boost US-India investments." The FDI between the US and India has grown by over 160% since 2005.

Currently, India's total retail sector is estimated to be at $ 590 billion. The increased foreign investments will not only promote growth, but investments in the logistics and the backend supply chain will help minimize wastage and losses, and positively affect inflation in India. The Committee of Secretaries is said to have recommended ensuring that at least half of the FDI is in back-end infrastructure like cold storage chains and warehouses.

Notes to Editor

The Alliance for U.S. India Business (AUSIB) is a leading non-profit trade association that offers a pathway to help your business succeed in the United States and India. AUSIB seeks to augment investment flows and trade between the U.S. and India and open new channels of communication between business and government leaders. For more information please visit http://ausib.org/


Journalists and Bloggers
Visit India PRwire for Journalists for releases, photos, email alerts and customized feeds just for Media.

If you have any query regarding information in the press releases, please contact the company listed in the press release itself. Please do not call India PRwire, we will be unable to assist you with your inquiry.


Ausib recent press release(s)


AUSIB, TiE Delhi - NCR enter into MoU.

Alliance for US India Business (AUSIB) and TiE Delhi - NCR signed a Memorandum of Understanding (MoU).

AUSIB enters into partnership with Euro Asia Research and Publishing House.

Alliance for US India Business (AUSIB) entered into a Memorandum of Understanding (MoU) with Euro Asia Research and Publishing House for non-commercial partnership for conferences arranged by Euro Asia Research and Publishing House during next 12 months (2010-2011).