-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...

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 Economic Times   A giant statue in a Lucknow square made 12-year-old Rashi curious. Whose statue is this, she asked her father. Although a BSP worker, Jhanki Ram couldn't go beyond the name, Jyotiba Phule. But not wanting to show his ignorance, he added, "He was a Mahatma who did a lot for the dalit community". Both had come from Etawah to take part in Kanshiram Parinirvan functions this month. For...

-ENS Economic Bureau   The government today approved a national policy for manufacturing that aims to increase the sector’s share in the economy to 22 per cent from 16 per cent and create 100 million jobs over 10 years. The policy will ensure this by facilitating national manufacturing investment zones, which will offer faster clearances. “It hopes to... give comfort to investors through a single-window clearance mechanism,” Commerce and Industry Minister Anand Sharma...

Although India is a labour-surplus economy – with an unlimited number of workers willing to work at a subsistence wage – a paradoxical feature of the labour market is the rising incidence of scarcity or shortages amid a situation of potential plenty. No doubt, this pertains to skilled labour. But when 15 per cent of Indian trucks are idle owing to a shortage of drivers or India Inc is worried...