A friend of mine in Delhi informed me this morning that the Cabinet has just approved 51% FDI in single-brand retail. What this means is that you can soon buy Coach handbags and Manolo shoes in India, but Wal-Mart will have to wait. I have looked for independent confirmation of this, but have come up with nothing. If any of you have more information, please do leave a comment. I think this is very significant news and could mean that FDI in multi-brand retail is just a matter of time.