News: Indian retail regulations may ease in 2-5 yrs
(ET 09/05/2006) Singapore - India will probably ease regulations for foreign retailers to enter the country in the next two to five years, a developers' group said.
Overseas retailers are operating in India through joint ventures, franchises or licensing agreements, because they can't hold a majority stake in their retail business, said Ramani Sastri, president of the Confederation of Real Estate Developers' Associations of India.
``There would be those in India that would obstruct the process but it's happening,'' Sastri said at a conference in Singapore today.
Taubman Centers, a US real estate investment trust that owns or manages shopping centers, said the regulation change would pave the way for more retailers in India. The mall developer is looking at investments in Asia including India.
``It will be sooner than later,'' said Morgan Parker, president of Taubman's operations in Asia. ``Retailers want to control their brands and it's a key factor.''
Overseas retailers are operating in India through joint ventures, franchises or licensing agreements, because they can't hold a majority stake in their retail business, said Ramani Sastri, president of the Confederation of Real Estate Developers' Associations of India.
``There would be those in India that would obstruct the process but it's happening,'' Sastri said at a conference in Singapore today.
Taubman Centers, a US real estate investment trust that owns or manages shopping centers, said the regulation change would pave the way for more retailers in India. The mall developer is looking at investments in Asia including India.
``It will be sooner than later,'' said Morgan Parker, president of Taubman's operations in Asia. ``Retailers want to control their brands and it's a key factor.''
posted by InCar Group Press Room at 21:24
0 Comments:
Post a Comment
<< Home