The Government has approved nine FDI proposals, including that of Amazon Retail India, envisaging foreign investments of about Rs 5,000 crore. According to the DIPP’s Foreign Investment Facilitation Portal, four foreign direct investment proposals, including BCP Advisors and Aveo Real Estate Holdings, have been rejected.
Amazon Retail has proposed investments of Rs 3,500 crore for setting up subsidiary company in India with 100 per cent FDI to engage in the business of retail trading of food products manufactured and/or produced in India. Similarly, Supermarket Grocery also proposes initial investment of Rs 105 crore in food retail business. Subsequently, it proposes to raise the FDI to Rs 800-1,000 crore in the next 18 months.