In another bizarre implementation of India’s FDI (foreign direct investment) policy, India’s government has decided to allow Ikea, the furniture retailer headquartered in Sweden, to set up shop in India. The approval, however, comes with a strange twist. You will not be able to buy a sandwich there. Or a masala dosa. Or a samosa. Or a coffee.
The reason being cited is that India does not allow FDI in food retailing. Unless you are a QSR (quick service restaurant) like McDonalds. So what we’re telling the world is bring us your junk food and your packaged nonsense, but please don’t introduce your sushi and your meatballs here.
Some more caveats to the Ikea approval – they will not be allowed to mail newsletters to customers (weird!) and will not be able to provide financing to it’s customers. India’s FDI policies still have a long way to go before they are relevant to this century.
CurryPost 