The current impasse in Parliament has created a logjam that threatens to disrupt the proceedings of the winter session. The latest reason that has brought the situation to such a pass is the decision of the Union cabinet to permit foreign direct investment (FDI) in the multi-brand retail sector, opening the way for international supermarket giants like Wal-Mart, Carrefour and Tesco to open their shops in India. While the Cabinet does...
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Muddling through retail reform by Ajay Dua
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...
More »Naveen seeks FDI brownie points by Ashutosh Mishra
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...
More »FDI in retail: Opposition to corner govt in Parliament
-PTI In a rare show of unity, a combined Opposition will seek to corner the UPA government in Parliament on Monday on its decision to allow FDI in retail. A clear indication to this effect was given today by the Leader of Opposition in Lok SabhaSushma Swaraj who said BJP leader Murli Manohar Joshi has submitted a notice ofadjournment motion on the FDI issue on behalf of the party. "We want the House...
More »Retail FDI confronts twin hurdles by R Suryamurthy
Global retail chains looking to set up shop in India may face several challenges such as delay in the implementation of goods and services tax and restrictions imposed by the Agricultural Produce Marketing Committee (APMC) Act, besides political opposition. These hurdles can be roadblocks in providing real benefits to farmers and consumers as intended by the government in opening the multi-brand retail sector to foreign direct investment. “GST (goods and services tax)...
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