-CNN-IBN "Many said that Kentucky (KFC) will drive the dhabas out of the market. The dhabas have driven out Kentucky. The Indian sherbet is still there despite Coca Cola and Pepsi. Don't underestimate India." That was former NDA finance minister Jaswant Singh in 2004 when he supported FDI in retail. "Fifty per cent of our population, comprising of small traders, street-vendors and the self-employed, sustain themselves through retail businesses. The UPA government...
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Opposition parties unrelenting over retail FDI issue
-The Hindu In a bid to break the impasse over foreign direct investment (FDI) in multi-brand retail, the government made a vain attempt on Wednesday night to persuade the Opposition to tone down the wording of its motion. But it was told in categorical terms that the demand for a rollback of the decision was non-negotiable. The Opposition stance was conveyed by the Working President of the National Democratic Alliance (NDA) and...
More »Durban: The early skirmishes by Richard Black
Like stags fighting, the first days of each annual UN climate summit start with delegations circling each other politically, looking for weaknesses, gauging strengths. The summit that began this week in Durban, South Africa, has been no different - and though it might seem that little has been accomplished so far, a number of blocs have at least made their positions clearer than ever before. And that's vital if effective negotiations are...
More »Embattled Patel General Stores by Ajit Balakrishnan
The battle for India’s retail market is being fought not just in the halls of Parliament and on the front pages of newspapers but also on the little stretch of road near my home in Mumbai, where Colaba Causeway peters out into Navy Nagar. The outsize name board, “Patel General Stores”, had proudly announced itself for as long as I can remember. Recently, however, I noticed that the board had been...
More »Wholesale sell-out by Sitaram Yechury
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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