Bharti Wal-Mart Pvt. Ltd, the 50:50 wholesale Retailing joint venture between Wal-Mart Stores Inc. of the US and India’s Bharti Enterprises Ltd, plans to enlist about 35,000 farmers in the next 5-year to source fresh produce as it opens more stores. Currently, Bharti Wal-Mart sources fruits and vegetables from more than 600 farmers in Punjab and other states. Last week, it opened its fourth Best Price Modern Wholesale store in Kota...
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Sharad Pawar wary of Sonia Gandhi's big food security plan by Sreejiraj Eluvangal
The National Advisory Council (NAC), led by Congress president Sonia Gandhi, may have suggested doubling food subsidies to keep an electoral promise, but the country’s food and agriculture minister, Sharad Pawar, is not amused. Pawar has expressed frustration at the NAC’s suggestion to provide subsidised food to 75% of the population. “It (the NAC proposal) reminds me of an old AICC (All Indian Congress Committee) resolution when I was a young...
More »Plan panel backs FDI in Retail, revives debate by Gaurav Choudhury
The Planning Commission has made a strong pitch for opening up the country’s Retail sector to foreign direct investment (FDI). The longstanding debate on this issue has gained an added edge with the forthcoming visit of US President Barack Obama next month. US business has for long been demanding that India open up its Retail sector. “FDI in multi-brand Retail trading should be permitted, since it will have both positive direct...
More »Microfinance to get a regulator in NABARD by Deepshikha Sikarwar
A worried government has put on fast track the proposed bill to regulate micro-lenders, as it seeks to ensure that over-regulation by states does not kill the sector that is envisaged to play a big role in furthering financial inclusion. The finance ministry could move a bill in the winter session of Parliament that will make Nabard responsible for regulation of all non-profit microfinance institutions structured as trusts, cooperatives, or mutual...
More »Govt divided on Retail FDI as FinMin says no by Surajeet Das Gupta
The government is divided over allowing foreign direct investment (FDI) in multi-brand and foodgrain Retailing. While the Ministry of Finance is opposed to any change in the existing Retail FDI policy, the Agriculture and Consumer Affairs Ministries, along with the Planning Commission, are open to the proposal mooted by the Ministry of Commerce and Industry. At present, FDI in these areas of Retailing is banned. The finance ministry’s position gains significance in...
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