-The Hindu   This is a major step towards providing liberation to farmers, says Sharma Ridiculing claims that opening of foreign direct investment (FDI) in multi-brand retail will lead to displacement and unemployment, Union Commerce and Industry Minister Anand Sharma on Friday asserted that this bold move would lead to creation of 10 million jobs and billions of dollars in investments during the next three years. Brushing aside the criticism by the Opposition parties,...

FDI in single-brand retail raised from 51 to 100%   In a bid to remove the impression that UPA-II is suffering from a “decision making paralysis” and kicking off the second generation reforms, the Union Cabinet on Thursday gave its approval for 51 per cent foreign direct investment (FDI) in multi-brand retail and 100 per cent FDI in single-brand retail. The decision is likely to clear the decks for the entry of foreign...

Indian suppliers must be units with investment up to Rs 1.25 cr, says draft before cabinet. Multinational retailers such as Walmart, Tesco and Carrefour looking to open stores in the country may have to source almost a third of their merchandise from small Indian manufacturers as the government tries to make the opening of multi-brand retail to foreign players more politically palatable. The draft cabinet note for permitting 51 per cent foreign...

The Mamata Banerjee government has begun to explore the possibility of modifying a land-ceiling clause to accommodate some concerns of industry. If the proposals are accepted, more industries will be exempt from the land-ceiling rule and transfer of land acquired for setting up industry would be allowed without diluting the new government’s hands-off policy. The land and land reforms department has sent a letter to four departments — commerce and industries, urban...

-The Hindu Business Line   Labour shortage, wage bill, loss of orders hit industry, says survey Labour shortage, wage increases and loss of confirmed orders are hitting industry hard, says a survey by Federation of Indian Chambers of Commerce of India (FICCI). If this were not enough, the UPA Government's flagship rural job scheme, MGNREGA, is adding to industry's labour woes by luring away casual workers, it adds. The survey, which found the impact of...