The Reserve Bank of India on Friday expressed the hope that foreign direct investment in multi-brand Retail would help in bringing down inflation. “...Certainly it (FDI in multi-brand Retail) would help improve supply chain and we hope it should also contribute to reducing inflation,” Reserve Bank of India Governor D. Subbarao told reporters on the sidelines of a memorial lecture here. Dr. Subbarao said 51 per cent FDI in multi-brand Retail would...

-Reuters   India's growth story is still "credible" and the move to open up the economy to global supermarket chains will help growth and control inflation, RBI governor Duvvuri Subbarao said on Friday. "It's commendable that government has taken the initiative. Let's hope that it will improve the logistics chain and supply chain management in agriculture," Subbarao said in a speech in Chandigarh. Late Thursday, the government approved 51 percent foreign direct investment in...

It wasn't just a vocal opposition that was against the Cabinet's decision to allow 51% foreign direct investment (FDI) in multi-brand Retail business. The cabinet itself was split down the middle, which had an animated — even heated — debate on the pros and cons of opening up a sector that was so far considered politically too sensitive for farmers, small traders and consumers. Finally it took the prime minister to...

Antony, Jairam and Virbhadra say it will hit small Retailers badly The United Progressive Alliance government pushed through the proposal to permit 51% FDI in multi-brand Retail and 100% foreign equity in single-brand trading on Thursday, in the face of vigorous protests not just from the Opposition and ally Trinamool Congress (TMC), but also disquiet in a section of the Congress. Following up on this, the Congress Core Group met here on...

-PTI   Strongly protesting the decision to open up the Retail sector to FDI, Left parties on Friday termed the move as “unprecedented” and said the government should have discussed it first in Parliament before taking the decision. “It is unprecedented. When Parliament is in session, a major decision was taken outside Parliament. It has never happened,” CPI(M) leader Sitaram Yechury told reporters outside Parliament House. “We will not discuss the FDI issue in...