RBI notifies FDI in single-brand retail

Mumbai: The Reserve Bank of India (RBI) on Friday formally notified allowing full foreign ownership in single-brand retail sector in the country. The government had earlier taken decision to open up the sector.

The government formally eliminated restrictions on foreign investment in its single-brand retail sector on Tuesday.

Opening the door to the likes of Swedish furniture giant IKEA to open stores in Asia's third-largest economy.