The Indian government has decided to allow foreign brands to...

The Indian government has decided to allow foreign brands to own up to 100 percent of any of their mono-brand stores operating in the country, instead of working with a local partner. The only condition is that they will have to source at least 30 percent of the value of the products they sell from small Indian firms and craftsmen if they own more than 51 percent of the store. The government had previously given up on a project to liberalize foreign direct investment for foreign multi-brand chains. Because of a lack of relatively modern retail infrastructures, major sports brands have been using single-brand stores as an important retail channel to cater to the promising Indian market, but they have been forced to engage in joint ventures with local operators.