-The Hindu   In a show of audacity, the United Progressive Alliance government has decided to further open up the retail trade sector to foreign investment. Foreign investors will be permitted to enter the hitherto prohibited multi-brand retail segment and hold equity of up to 51 per cent in the units established. That there is widespread political opposition to this change in policy was known for long. Hence, the move is nothing...

-The Telegraph   Tamil Nadu chief minister Jayalalithaa today joined the chorus against the entry of foreign capital in multi-brand retail, saying the Centre’s decision that smacked of “overweening arrogance” would affect the livelihood of millions of small-time traders. In Delhi, the under-fire UPA brought out a full-page ad in newspapers that said the move would “generate 10 million new jobs” contrary to the “mistaken belief” that it would result in widespread unemployment. The...

-The Telegraph   The cabinet today unlocked the retail market for foreign direct investment, braving the Trinamul Congress’s objections but assuring Mamata Banerjee earlier in the day that state governments would have enough leeway to protect the interests of farmers. The most significant of today’s decisions is the clearance to 51 per cent foreign investment in multi-brand retail, which will allow the entry of giants that are already household names in a country...

India has approved long-awaited proposals to open up the retail market to global supermarket chains. Food Minister KV Thomas said the cabinet has agreed to 51% foreign ownership of multi-brand retail stores, allowing groups like Wal-Mart and Tesco to open stores. Such operators currently can only sell wholesale in India and not directly to customers. A decision on the issue has been pending for two years. Mr Thomas told reporters that the cabinet decided...

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...