Oct 15 U.S. accessories manufacturer Fossil Inc
is the third overseas retailer to apply to India's
government to enter the market through a 100 percent owned
operation, a local television station said on Monday citing
A spokesman for Fossil, which already has a distribution
agreement to sell their watches, jewellery, handbags and leather
goods in India, could not be reached by Reuters for comment.
Fossil would follow Sweden's IKEA and U.K. shoe
retailer Pavers in applying for permission to enter the country
through a wholly-owned business, ET Now reported.
India removed a cap on foreign investment in single-brand
retail in January.