-Reuters   Commerce minister Anand Sharma said on Friday that the government's new policy to allow foreign supermarkets into the country would create 10 million jobs over three years, while not affecting smaller, domestic Retailers. The government on Thursday approved 51 percent foreign direct investment in the supermarket sector, paving the entry of firms such as Wal-Mart, Tesco and Carrefour into one of the world's largest untapped markets. The government will have the first...

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...

-The Times of India   After debating the issue for over a decade, the government on Thursday threw open the multi-brand Retail segment to foreign chains such as Wal-Mart, Carrefour and others in a move to attract overseas investment and dispel doubts about the coalition's ability to push through big-bang reforms.  After nearly two hours of discussion on Thursday evening, the Union Cabinet decided to allow foreign Retailers to hold 51% stake in...

-The Telegraph   The Trinamul Congress will oppose foreign direct investment (FDI) in Retail and pension funds as well as changes in rules that will allow foreign airlines to invest in Indian carriers. Mamata Banerjee has instructed her sole member of the cabinet — railway minister Dinesh Trivedi — to oppose the Retail proposal at tomorrow’s cabinet meeting, the minister confirmed today. The Trinamul roadblock is being seen as an attempt to reaffirm its...

-The Indian Express While the BJP and the Left have been objecting to allowing FDI in Retail, ally DMK’s stand could spell trouble for the government. However, there’s some relief in sight with Trinamool Congress chief Mamata Banerjee hinting that she is open to discussions on the issue. A few hours before the Union Cabinet cleared FDI in Retail, Banerjee indicated that her party was open to discussions on the matter, without...