The top 10 investment destinations for Indian companies in the last three years are all tax havens, if the US and UK which figure at number 4 and number 8, respectively, are discounted. The statistic, released by the finance ministry, reinforces the belief that the government has failed in curbing the flow of black money out of the country. Around 40% of the total investments in these three years have been...
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UN official underlines link between food security and climate change
-The United Nations Ensuring global food security while striving to save the Planet from damage are the greatest challenges of this century, a senior United Nations official said today, stressing the need to enable smallholder farmers to become more resilient to climate change and to produce more food in ways that are environmentally sustainable. “There is no trade-off between feeding people and saving our Planet,” said Kanayo F. Nwanze, the President of...
More »Business asks farmers to speak up against FDI ‘false drama’
-The Telegraph Two prominent leaders of India Inc have slammed the way Parliament has virtually been locked down by “misconceived and unfortunate” protests against foreign investment in retail — a decision they termed “an essential part of India’s growth story”. The concerns and an appeal to farmers, consumers and common people have been flagged in an open letter by Ashok Ganguly and Deepak Parekh. Ganguly, a Rajya Sabha MP, is a former...
More »FDI row: India Inc's overseas retail biz on high FDI by Pradeep Thakur
While the government may be finding it difficult to get its FDI in multi-brand retail pass the test of Parliament, India Inc has been pledging huge investments in wholesale and retail trade abroad, including in countries like the US and the UK. In the 2010-11 fiscal, investments of Indian companies in wholesale and retail trade overseas went up 78% as compared to the previous year - up from $1,052 million in...
More »Unparliamentary flip flops mar FDI debate
-CNN-IBN "Many said that Kentucky (KFC) will drive the dhabas out of the market. The dhabas have driven out Kentucky. The Indian sherbet is still there despite Coca Cola and Pepsi. Don't underestimate India." That was former NDA finance minister Jaswant Singh in 2004 when he supported FDI in retail. "Fifty per cent of our population, comprising of small traders, street-vendors and the self-employed, sustain themselves through retail businesses. The UPA government...
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