The govt has notified its decision to allow global retail giants like Walmart to open stores in India. With this notification, multinational retailers can invest up to 51 percent to open stores in 10 states and UTs which, till date, have agreed to implement the decision. The decision will take immediate effect.

The DIPP also operationalised Cabinet decisions to relax the sourcing norms for foreign retailers investing beyond 51 percent in single-brand retail and allow 49 percent FDI by foreign airlines in the domestic carriers.

Besides, the decisions on permitting 49 percent FDI in power exchanges and increase in foreign equity cap from 49 percent to 74 percent in the service providers like DTH in broadcasting sector have also been notified.

Retail sales outlets may be set up in those States\UTs which have agreed, or agree in future, to allow FDI in MBRT (multi-brand retail trading) under this policy.

Minimum amount to be brought in by the foreign investor would be USD 100 million and outlets may be set up only in cities with a population of more than 10 lakh.

At least 50 percent of FDI should be invested in 'back-end infrastructure' within three years of the first tranche.