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The government has approved the foreign direct investment (FDI) applications of Chinese smartphone manufacturer Oppo and lingerie retailer Zivame, gifting brand Chumbak and two other firms. On Tuesday, the Foreign Investment Facilitation Portal (FIFP) approved single-brand retail trading for Oppo for an unspecified amount. The company had been one of the first to apply under the liberalised FDI norms, first updated by the government back in June 2016. While the company had applied soon after, the government had taken a long time to finally give the nod owing to initial reservations about allowing a major Chinese retailer rights to sell in India, a senior government official hinted. The latest move allows Oppo to sell its products both online and offline, apart from the existing wholesale retail route used by it. Currently, the company sells its products through franchises using the distributor model. As of June quarter, Oppo is the fourth largest player with 8 per ...

Last year, govt allowed 100% FDI in multi-brand food retail Global e-commerce major   Amazon   is aiming to enter the food retailing sector in India with investment plans of $515 million over the next 5 years. Food Processing Industries Minister Harsimrat Kaur Badal on Thursday confirmed the company’s investment plans while adding that Metro Cash & Carry has also shown interest in food retailing. Back in January, Amazon had filed its application with the Department of Industrial Policy and Promotion (DIPP). Online players Grofers and Big Basket also have also submitted FDI proposals regarding retail trading of food items. While Amazon is one of the major e-commerce players in India, Grofers and Big Basket are into online grocery space. Last year, in June, the government allowed 100 per cent FDI in multi-brand food retail, including through e-commerce. However, the food products have to be produced, processed or manufactured in the country. However, while th...