Farmers are joining India Inc in mind, body and spirit. In a quiet revolution underway across the countryside, growers are setting up companies, replete with balance sheets, professional CEOs, board of directors, and income tax returns. By pooling together the land and produce of their shareholders, these companies are signing lucrative deals with large retail chains, food companies and exporters keen to establish reliable supply chains. As many as 200 companies...
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FDI on hold, Pranab tells Opposition
-The Hindu Union Finance Minister Pranab Mukherjee on Monday confirmed to a section of the Opposition that the Union government had decided to put on hold the move to allow foreign equity in the multi-brand Retail Sector, pending further consultations. The issue has stalled Parliament since November 25. However, it is not immediately clear whether this is enough to break the deadlock. On Monday, Mr. Mukherjee called up BJP leaders L.K. Advani and...
More »FDI row: India Inc's overseas retail biz on high FDI by Pradeep Thakur
While the government may be finding it difficult to get its FDI in multi-brand retail pass the test of Parliament, India Inc has been pledging huge investments in wholesale and retail trade abroad, including in countries like the US and the UK. In the 2010-11 fiscal, investments of Indian companies in wholesale and retail trade overseas went up 78% as compared to the previous year - up from $1,052 million in...
More »Farmer groups back FDI in multi-brand retail: Anand Sharma
-The Times of India A delegation of farmers from north India met commerce industry and textiles minister Anand Sharma on Saturday and backed the government's move to allow 51% foreign direct investment in the multi-brand Retail Sector. The farmers said the policy removes middleman and will bring better prices for the farmer's products. They said a progressive move that is expected to benefit the farm economy should be supported. "As far as FDI...
More »Retail, manufacturing largest employment avenues in Bihar: Report
-PTI The retail and manufacturing sectors have emerged as the largest job providers in Bihar, together employing more than 14 lakh people. According to a recent report containing a summary of the Fifth Economic Census, 2005, around 9.77 lakh people are employed in the Retail Sector, while more than 4.58 lakh people work in the manufacturing sector in Bihar. The two sectors account for 65 per cent of total employment generated by all...
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