Has India done a China to its trade partners? Against huge opposition and popular discontent over the years, the Cabinet last week cleared 51 per cent foreign direct investment (FDI) in multi-brand retail and allowed 100 per cent FDI in single-brand retail. The move appears crafty in that it tries to change the perception of a reform impasse in the government while simultaneously aiding India’s negotiators to meet their peers...

The commerce & industry ministry has decided to make fresh efforts to get state governments on board on the issue of allowing foreign direct investment ( FDI) in retail trading. In addition, commerce & industry minister Anand Sharma is also expected to meet trade and farmer bodies over the next few days in a bid to garner their support for the controversial move.  Officials said industry secretary P K Chaudhery is...

-The Hindu   In a bid to break the impasse over foreign direct investment (FDI) in multi-brand retail, the government made a vain attempt on Wednesday night to persuade the Opposition to tone down the wording of its motion. But it was told in categorical terms that the demand for a rollback of the decision was non-negotiable. The Opposition stance was conveyed by the Working President of the National Democratic Alliance (NDA) and...

Manmohan Singh today refused to yield to pressure on the question of allowing foreign direct investment in retail and appeared ready for a protracted battle, including the risk of a vote in Parliament despite his government’s fragile majority. Somewhat reminiscent of his nuclear deal stand, the Prime Minister confronted those who had accused the government of taking a hasty decision on retail. “We have not taken this decision in haste, but after...

With deep pockets and international sourcing capabilities, global retail chains will outcompete domestic players, displace jobs, and undermine livelihoods. In predictable fashion, the Manmohan Singh government chose to ignore voices of opposition and implement its agenda of permitting foreign investment in the retail trade. While Parliament was in session, the Cabinet met to approve the hitherto prohibited foreign direct investment in multi-brand retail, with a cap of 51 per cent on...