The Swedish retail brand, Hennes & Mauritz (H&M), has been given a nod of investing $115 billion (Rs 720 crore) in Indian retail market by the Foreign Investment Promotion Board (FIPB). With this approval, the retailer will set up fully owned subsidy in India.
It was earlier this year that world’s second largest fashion retailer had announced its plans to open 50 stores in India.
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