Relaxed FDI norms in India to help fashion brands expand
The Fitch group company also sees India’s improved 100th position on the World Bank’s ‘Ease of Doing Business’ index among 190 countries to boost foreign investment in the country, according to a news agency report.
The Indian Government recently permitted cent per cent FDI in single brand retail, a move towards allowing foreign players to set up own shops in India without government approval for investments. It also relaxed mandatory local sourcing requirement of 30 per cent.
With rising disposable income, Indian consumers will be able to spend a greater share of their incomes on non- essential goods and services, the report added. (DS)
Fibre2Fashion News Desk – India