DIPP approves 3 FDI proposals for single brand retail
Three foreign direct investment (FDI) proposals, including that of Mountain Trail Foods and Kohler India Corporation, were approved by the department of industrial policy and promotion (DIPP) in the single brand retail sector.
Mountain Trail Foods would undertake retail trading of food products including tea and beverages, according to the DIPP's Foreign Investment Facilitation portal.
The company had proposed to invest USD 10 million.
Kohler India Corporation will carry out single brand retailing of 'Kohler' branded products in India.
Similarly, Merlin Entertainments India got approval to undertake retailing under the brand 'Madame Tussauds'. It plans to invest Rs 1 crore.
The portal was set up after the winding up of the foreign investment promotion board.
FDI into the country had grown 9 per cent to USD 43.47 billion in 2016-17.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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