Foreign retailers may have to reserve at least half of their jobs in superstores for rural youth and source more than the mandated 30% from micro and small industries as the government tries to salvage the big ticket but controversial economic reform. An official said the government is likely to have a relook at a proposal that seeks to reserve at least 50% of jobs in foreign-owned superstores for those who...
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At 8%, plunging food inflation brings back smiles
-The Economic Times India's food inflation eased to a four-month low in the week to 19 November as vegetables, cereals and eggs turned cheaper. The decline in the reading for the fourth consecutive week came as a respite to the government struggling to recover from a string of recent bad tidings. Data released by the commerce and industry ministry on Thursday showed the wholesale price index for food articles rose 8% year-on-year,...
More »Centre makes fresh bid to woo states on retail FDI by Sidhartha
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...
More »Enter, farmer with an FDI query by R Suryamurthy
Farmers, a holy-cow constituency considered more valuable than small traders to the political class, have begun to ask uncomfortable questions to those opposing foreign direct investment (FDI) in retail. Several farmer groups, some of them led by politicians with ties to the Congress, have asked why some parties are standing in the way of a measure that is expected to reduce the clout of middlemen and increase farm earnings. Although Prime Minister...
More »FDI in retail: Row over FDI in retail escalates as state governments and UPA allies join opposition
-The Economic Times The row over opening up of the retail sector escalated on Monday with Congress' Kerala unit backing the rollback demand of 12 Opposition-controlled state governments and UPA allies DMK and Trinamool Congress. The fissures within the ruling alliance and the potential of the issue to bring disparate Opposition groups together saw Congress president Sonia Gandhi intervening to cut political losses for her party. Sonia, who held consultations with Prime...
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