The government’s decision to open with 51 per cent in multi-brand and 100 per cent in single brand retail market would allow global players to enter Indian markets by setting up manufacturing units in India. It will also help overseas majors to acquire regional brands and promote them to the national level for participation with local players.%% “It is a good decision which will help Indian jewellery industry to get innovative technology which is widely accepted elsewhere. Global jewellery peers will also bring technical know-how which will help the industry to grow rapidly,” said{{ Sanjay Kothari}}, vice-chairman of the Gems and Jewellery Export Promotion Council (GJEPC) said to media sources.%% FDI in retail sector is also likely to benefit the consumers. Apart from widening the consumers’ choice, and bringing novel designs to the Indian market, the jewellery items would be available at least 10 per cent cheaper for Indian buyers. %% “Opening up FDI in retail will accelerate the growth of branded and organised players like us. We can have strategic partners and inflow of fund to improve the ‘retailonomics’ of the country. For international retailers it is an opportunity to be a part of Indian consumption story as well as bring in revolution in the retail experience with their expertise. Beside window for luxury players to partner with Indian brands, we expect chains like Wallmart, Carrefour, M&S also to spread their presence and formats,” said {{Mehul Choksi}}, CMD of Gitanjali Gems said to media sources.%% Branded jewellery sector is likely to get the biggest pie of overall foreign direct investment. With the industry is expected to witness a double digit growth the entry of foreign players would escalate the growth further.%% Organised retailers like Gitanjali Gems, PC Jewellers, Tanishq and Tribhovandas Bhimji Zaveri (TBZ), with the growing focus of Tier-II and Tier-III cities, are set to grab greater pie of the rural economic growth arisen especially from rapidly expanding income from land bank and farm sector.%% According to a CII study, opening up of FDI in retail can increase organised retail market size to $260 billion by 2020. This would result in an aggregate increase in income of $35-45 billion per year for all producers combined; 3-4 million new direct jobs and around 4-6 million new indirect jobs in the logistics sector, contract labour in the distribution and repackaging centres, housekeeping and security staff in the stores. The government also stands to gain by this move and can be expected to receive an additional income of $25-30 billion by way of increased tax collection and reduction of tax slippages.%%