menu
Get a daily delivery of PSFK
Subscribe to get a daily digest of new ideas and discoveries and to find out about upcoming events

Starbucks And Ikea Finally Get The Go-Ahead To Open Outposts In India [Headlines]

The nation changes its laws so that big name western companies are now able to open outlets without having to have a local partner.

Sam McNerney

India abandoned a rule against foreign single-brand retailers operating stores without a local partner, paving the way for global companies including Starbucks Corp. and Ikea.

The government ratified a Nov. 24 cabinet decision to raise the ownership limit to 100 percent from 51 percent for single- brand, Trade Minister Anand Sharma said in a statement yesterday. The new rules take effect immediately and require the companies to use smaller Indian companies for at least 30 percent of procurement, he said. Bloomberg Businessweek.

{{post.author_display_name}}
  • {{post.date_formated}}
{{post.author_display_name}}
  • {{post.date_formated}}
Read More Tap to Expand
PSFK Writer {{post.author_display_name}}
  • {{post.date_formated}}
Get a daily delivery of PSFK
TREND REPORT

PSFK Labs presents
The Future of Retail 2015

A Manifesto To Reinvent The Store