Honda Motorcycle & Scooter India (HMSI) and Swedish fashion retail giant Hennes & Mauritz (H&M) are planning to open retail stores in India.
Both, HMSI and H&M have applied to the Department of Industrial Policy and Promotion (DIPP) for permission for proposed single-brand retail outlets in the country.
HMSI, a wholly owned subsidiary of the Japanese auto giant Honda, which had sought approval from the Foreign Investment promotion Board (FIPB), has proposed to sell products like motor cycles, spare parts and accessories in its stores. At present, the firm sells its vehicles as well as spare parts through franchises. On the other hand, H&M has proposed an investment of €100 million (around Rs 700 crore) for opening up of 50 stores.
