Government approved a proposal from M/s Tesco Overseas Investment Ltd., (TESCO) a U.K. Company for foreign investment of not less than US $ 110 million to carry out the business of Multi Brand Retail Trading in India. The Foreign Direct Investment (FDI) inflow reported by Reserve Bank of India from TESCO is ₹ 850 crores.

 Government has not taken any decision with regard to implementation of FDI policy in Multi Brand retail trading.

 This information was given by the Minister of State (Independent Charge) in the Ministry of Commerce & Industry Smt. Nirmala Sitharaman in a written reply in Lok Sabha today.

Foreign direct investment approval for multi brand retail granted; broader FDI policy implementation remains undecided. Approval was granted for a foreign investment proposal by M/s Tesco Overseas Investment Ltd. to carry on Multi Brand Retail Trading in India, with the Reserve Bank of India reporting the related FDI inflow. The Government has not taken any decision on the implementation of FDI policy in multi brand retail trading; the status was conveyed by the Minister of State in a written parliamentary reply.