Bangalore, Aug 15 (IANS) Regulatory issues over the entry of foreign brands and luxury goods are keeping international retailers from investing in India in a big way, says a new study by the US-based global investment management firm Jones Lang LaSalle (JLL). “Though international retailers have shown a keen interest to enter India, progress has been slow due to regulatory uncertainty on retailing by foreign businesses,” said the report, ‘A Magnet for Retail – Tracking the expansion of retailers across Asia Pacific’. Union Commerce and Industry Minister Nirmala Sitharaman Wednesday told lawmakers in the Rajya Sabha in New Delhi that the NDA government would not “entertain” foreign direct investment (FDI) in multi-brand retail, as the ruling BJP was opposed to it. In spite of entry hurdles, strong growth prospects have encouraged foreign retailers such as Swedish multinational H&M (Hennes & Mauritz AB) and British fresh handmade cosmetics firm Lush to enter the country’s expanding retail market.
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