INDIA: Vote on India FDI in multi brand retail

Monday December 3 2012

It is being reported that the government has tabled in the lower house of Parliament amendments in the Foreign Exchange Management Act (FEMA) to allow India FDI in multi-brand retail.

Five amendments, notified by the Reserve Bank of India (RBI) between May and October this year, were tabled in the House by Minister of State for Finance Namo Narayan Meena.

The notifications were tabled as per the Section 48 of the 1999 Act which requires their acceptance by both Houses of Parliament.

This information will be updated as further details become available.