Government approves 5 FDI proposals in single brand retail sector
Government has approved five Foreign Direct Investment (FDI) proposals for single-brand retail. Approved proposals include Louis Vuitton, Oppo Mobiles, Chumbak Design, Daniel Wellington and Actoserba Active Wholesale. Chumbak Design is expected to bring foreign inflows of USD 8.62 million and Daniel Wellington USD 10 million. Oppo mobiles got nod to undertake Single Brand Retail Trading (SBRT) of OPPO while others like Louis Vuitton received approval for addition of products and Actoserba Active Wholesale for retailing products under its brand Zivame.
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