According to sources, a subsidiary of one of West Asia’s largest business houses Alghanim Industries has plans to enter the retail sector through its Indian subsidiary, Kirby Building Systems, a maker of pre-engineered steel buildings.
The company has strategically chosen to enter multi-brand consumer durable. This is an area where FDI is not allowed. Sources have said that the company has chalked out a road map in this regard, which it has shared with concerned government departments.
Few people in the government have serious concerns about the company’s plans to enter through its Indian subsidiary, as this will set an example for many foreign players to take the same road.