Government has approved 63 proposals for FDI in single brand retail so far, Union Commerce Minister Anand Sharma said on Friday.
"We have received and approved 63 proposals for FDI in single brand retail so far," he told reporters on the sidelines of an interaction with the scientists of Central Manufacturing Technology Institute here.Asked about the investment flow from the proposals cleared, he said, "off hand, I can't tell you what would be the quantum of the FDI which will come in with these 63 proposals. But it would be in terms of billions of dollars."The biggest player is the Swedish furniture giant IKEA which is already sourcing close to $ one billion from India, Sharma said.