The government on Tuesday notified 100 per cent FDI in single-brand retail, paving way for global chains like Adidas, Louis Vuitton and Gucci to have full ownership of their India operations.
The mandatory sourcing of at least 30 per cent would have to be done from the domestic small and cottage industries which have a maximum investment in plant and machinery of USD 1 million (about Rs. 5 crore).
However, the Government was forced to put on hold FDI in multi-brand retail by several political parties, including UPA ally Trinamool Congress.
