|
|
Article: POTENTIAL OF INDIA'S LUXURY MARKET DRAWS ATTENTION OF GLOBAL COS.(Industry overview)
- Article from:
- AsiaPulse News
- Article date:
- April 17, 2008
CopyrightCOPYRIGHT 2008 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
NEW DELHI, April 17 Asia Pulse - India's luxury market is drawing the attention of dominant global companies. Leading luxury players feel that India is an emerging market with huge potential and this is the time to enter the country, as infrastructure develops to meet the demands of luxury brands.
The Indian government is considering relaxing the foreign direct investment (FDI) cap on luxury brands along with rationalising import duties in order to give a push to the sector. The Commerce Ministry is proposing to lift the FDI cap on single brand retail by taking it to 100 per cent from its current 51 per cent. The Economic Survey even suggested allowing 100 per ...