Lack of adequate credit - the lifeblood for any company is threatening to derail fledgling attempts by hundreds of dalit entrepreneurs to overcome deep socio-economic barriers and break into mainstream business.  Without credit, such entrepreneurs would also struggle to cash-in on the Rs 7,000-crore business opportunity opened up by the central government's new dalit-friendly sourcing plan, unveiled last month.  Credit disbursements to dalit entrepreneurs through 20-odd schemes run by the Ministry of...

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...

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...

Indian suppliers must be units with investment up to Rs 1.25 cr, says draft before cabinet. Multinational retailers such as Walmart, Tesco and Carrefour looking to open stores in the country may have to source almost a third of their merchandise from small Indian manufacturers as the government tries to make the opening of multi-brand retail to foreign players more politically palatable. The draft cabinet note for permitting 51 per cent foreign...

The Centre is set to make it compulsory for 4% of its annual purchases to be made from units run by dalits and tribals in what will be its strongest bait for classes that hold the key to political battles at the Centre and states. A rough estimate of the proposed spending comes to Rs 25,000 crore. Preferential procurement has been an early poll promise of UPA and its delivery...