Bharti Wal-Mart news and archive

Govt refers Bharti Wal-Mart, Flipkart cases to ED

The government has referred Bharti Wal-Mart and Flipkart Online Service’s alleged violation of FDI regulations to the Enforcement Directorate (ED). “Violation of FDI regulation is covered by the penal provisions of the Foreign Exchange Management Act (FEMA). The RBI has informed the matter related to Bharti Wal-Mart/Cedar Support Services and...

Fashion

Indian retailers in a catch-22 situation on FDI in retail

Amid growing opposition to its decision of allowing foreign direct investment (FDI) in retail sector, the UPA government has decided to put the issue on the back burner. The much awaited approval to 51 per cent FDI in multi-brand retail was approved by the Cabinet recently. In fact industry majors like the Future Group, Bharti Retail, Spencer’s...