Madame Tussauds among 3 FDI proposals cleared by DIPP


The Department of Industrial Policy and Promotion (DIPP) has approved three foreign direct investment (FDI) proposals, including that of Merlin Entertainment-owned Madame Tussauds to undertake single-brand retail.

Mountain Trail Foods, which operates the Chai Point outlets, has got approval for food retailing, bringing in FDI inflows of $10 million (Rs 65 crore). Kohler India Corp’s proposal for single-brand retail has also been approved.

Madame Tussauds is expected to open its first museum in India in Delhi. The department has, so far, approved 20 single-brand retail proposals worth nearly Rs 4,900 crore for food product and single-brand retail trading, including those of Amazon, Grofers and Urban Ladder.