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INDIA: FDI-backed Retailers Obliged to Maintain Separate Food and Non-Food Accounts

FDI-backed retail companies must maintain separate accounts for their food and non-food businesses although they are to be permitted to use the same warehousing facilities – duly divided – for both elements of their commercial activities. The ruling follows an earlier announcement that 100% FDI is to be permitted in the case of businesses trading in locally-produced food products, whether online or through more conventional channels.

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