Ikea, H&M set to benefit from single-brand retail changes

The government’s decision on Wednesday to ease local-sourcing norms for single-brand retail is positive for companies like  IKEA, Uniqlo and H&M. All procurement in India — for domestic or export markets — will be accepted as local sourcing. Also, single-brand retailers will be allowed to start online store even before they set up brick-and-mortar outlets. They will, however, have to establish an offline presence within two years of launching e-stores.According to retailers who already operate in the country, the new norms will help in ease of doing business.