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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Electoral politics obstructing FDI in retail: Pranab
-CNN-IBN Finance Minister Pranab Mukherjee on Friday claimed that foreign direct investment (FDI) in Retail Sector will significantly reduce post harvest losses and targeted the Opposition parties for obstructing the implementation of the FDI policy. "Narrow political considerations are coming in the way of decisions like FDI in retail," said Pranab Mukherjee while addressing the Hindustan Times Leadership Summit in New Delhi. Reiterating that the Government will ultimately be able to persuade everyone...
More »Do we need a retail regulator? by Suparna Karmakar
Has India done a China to its trade partners? Against huge opposition and popular discontent over the years, the Cabinet last week cleared 51 per cent foreign direct investment (FDI) in multi-brand retail and allowed 100 per cent FDI in single-brand retail. The move appears crafty in that it tries to change the perception of a reform impasse in the government while simultaneously aiding India’s negotiators to meet their peers...
More »No rollback on FDI, but no rollout soon
-The Times of India UPA partners Trinamool Congress and DMK rejected Prime Minister Manmohan Singh's appeal to drop their opposition to FDI in retail on Thursday, enhancing the possibility that the government may have to announce that it will not roll out the decision. Although a formal notification to make the Cabinet decision operational has already been put off, the unrelenting opposition from Trinamool and DMK may force the government to put...
More »FDI protest: 35L traders down shutters in Maharashtra, response muted in Bihar
-The Times of India Shops and commercial establishments in many cities across the country have downed their shutters to protest government's decision to allow foreign direct investment (FDI) in retail. However, the impact of the strike is varied from state to state. In Maharashtra, round 35 lakh small and medium traders have kept their shops shut in response to the bandh. "We have received good response for the bandh in Mumbai and Navi Mumbai...
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