The government ratified a Nov. 24 cabinet decision to raise the ownership limit to 100 percent from 51 percent for single- brand, Trade Minister Anand Sharma said in a statement yesterday. The new rules take effect immediately and require the companies to use smaller Indian companies for at least 30 percent of procurement, he said.
via India Lets Starbucks, Ikea Open Wholly Owned Stores After Wal-Mart Reverse – Bloomberg.
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