Future Retail drops on FDI clarification

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Shares in Future Retail dropped 2 per cent on Friday after the government said that foreign companies entering into India must invest in Infrastructure and merely not buy assets.

The Future Retail Stock was down almost 3 per cent in early trade, while Group stock Future Ventures also declined. Late on Thursday the government said that 50 per cent investment by foreign companies in multi-brand retail should come in back-end infrastructure.

Tightening of the existing policy means it would be difficult for companies like Future Retail to attract foreign investment, as the emphasis of foreign companies has to shift to infra development and not ready asset purchases.


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