-BBC US retail giant Walmart hopes to open its first stores in India within two years, the company's president and CEO for Asia told the Wall Street Journal. Scott Price said they had not yet decided on "where or how many stores" they would have in India. Last week, the Indian government announced plans to open up the retail sector to global supermarket chains. The authorities say the reforms are needed to revive the...
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India's supermarket move shows its tired government has run out of ideas-Jayati Ghosh
-The Guardian Allowing foreign chains such as Tesco to open in India will drive up unemployment and exploit small producers India's ruling coalition has been rocked after its second-largest partner withdrew this week. The latest round of political instability comes about because prime minister Manmohan Singh announced a number of economic measures without consulting his allies. The announcements – that diesel prices were to be raised, and that India's retail and domestic...
More »Government keen to push bills on food security, land acquisition: Salman Khurshid
-PTI After the big-bang reforms, Law Minister Salman Khurshid today indicated government's keenness to push bills on food security and land acquisition, insisting that even Mamata Banerjee will not be able to oppose them. He maintained that "the bills drive a deft political balance between populism and reforms". "The draft (food security) Bill is being given the final touches by the Cabinet. This will ensure that poor will have their stomachs full. Nobody...
More »FDI in Retail Not a Threat to Kirana Shops: Montek
-Outlook Allying fears that opening up of the retail sector for FDI will hurt small kirana shops, Plan Panel Deputy Chairman Montek Singh Ahluwalia today said modern retail is an expanding segment and it would more than double in a very short time. "I don't think FDI in retail is threat to small retailers. Modern retail is the expanding segment. Those who say that the small sector would be hurt, I think...
More »Retail firms with FDI can’t sell online
-The Indian Express DIPP officials cite regulatory issues, problems in checking inter-state transactions in e-commerce activities The new rules that allow foreign retail chains to pick up to 51% stake in Indian supermarkets will not apply to e-commerce companies in the business-to-consumer (B2C) space. This means while the US-based retail firm Walmart can pick up a 51% stake in Bharti Retail, the JV firm cannot sell its products online through that entity....
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