Chief minister Naveen Patnaik today slammed the Centre’s move to allow 51 per cent foreign direct investment (FDI) in the retail sector by demanding immediate scrapping of the UPA’s “ill advised and regressive” retail policy. “In our considered view, this policy is ill-advised and highly regressive. I would, therefore, earnestly request you to reconsider the matter and withdraw this policy immediately,” said Naveen in a letter to Prime Minister Manmohan Singh. Apart...

-The Hindu   Parliament logjam continues   The government and the Opposition hardened their stance on Foreign Direct Investment (FDI) in the multi-brand retail sector, as Parliament remained disrupted for the third day on Tuesday on the issue. A meeting convened by Leader of the House and Finance Minister Pranab Mukherjee to reach out to the Opposition on the issue, 90 minutes before Parliament began its session, proved nothing more than a ritual. The entire Opposition...

In opening up the retail trade to foreign equity last week, the Union government demonstrated uncharacteristic courage and conviction. While this policy measure might help dispel doubts about its ability to take decisions, it has raised a political dust-storm more intense and widespread than it had probably bargained for. No doubt, taking a view on the issue of liberalising FDI norms for multi-brand retail had been on the government’s agenda for...

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...

-The Telegraph   The Sonia-Gandhi headed National Advisory Council will prod the government to bring a law to protect unorganised retail sector workers as it brings foreign direct investment into multi-brand retail. Sonia, the council chairperson and the Congress chief, showed the green flag to the government on FDI in retail. The NAC in 2005 had drafted the unorganised sector workers’ social security bill that proposed a national authority to oversee the implementation of...