Investors to benefit from MSME sourcing

'Investors to benefit from MSME sourcing'

Union minister for Commerce & Industry Anand Sharma says the domestic sourcing norms in single brand retail is a well-considered policy decision

Thursday, February 02, 2012

NEW DELHI, INDIA: Union minister for Commerce, Industry & Textiles Anand Sharma opined that the local sourcing norms from Micro, Small and Medium Enterprises (MSMEs) on the single-brand retail will benefit investors.

The minister was addressing the 9th World CEO Sustainability Summit here on Tuesday. "Domestic sourcing norms in single brand retail is a well-considered policy decision and sourcing from MSME from within the country is matter of experience which will tell us that sourcing will be rewarding for investor."

In January, the Centre notified that Foreign Direct Investment (FDI), up to 100 per cent, under the government approval route, will be permitted in single brand product retail trading.

©CIOL Bureau