The US has termed as "watershed" and "courageous" the Indian government's decision to allow FDI in multi-brand retail, saying that the new reforms will send out the "right message" to global investors.
Modern organised retail will be helpful in containing inflation and allowing foreign direct investment (FDI) in multi-brand retail leads to development of back-end infrastructure that will benefit farmers, according to C Rangarajan, Chairman of the Economic Advisory Council to the Prime Minister.
Taking a dig at Manmohan Singh for allowing FDI in multi-brand retail, Gujarat Chief Minister Narendra Modi on Friday said the prime minister has altered the definition of Indian democracy to "of the foreigners, by the foreigners and for the foreigners."
The FDI announcements made by the government in multi-brand retail, single-brand retail, aviation sector and broadcast sector are expected to change the landscape of the respective industry.
The proposed e-commerce rule book issued recently by the ministry of consumer affairs does not mention foreign companies or foreign direct investment (FDI) at any place, unlike most other government guidelines for the sector so far. That is a heartening development since the latest proposals could be fine-tuned as e-commerce policy.
Senior Bharatiya Janata Party leaders Ravi Shankar Prasad and C P Thakur were detained in Patna on Thursday during a protest against the Congress-led United Progressive Alliance government over Foreign Direct Investment in multi-brand retail and the hike in diesel prices. Several other opposition leaders have also been detained by the police.
Dravida Munnettra Kazhagam, a key ally of the ruling United Progressive Alliance, on Tuesday announced its participation in the nation-wide bandh on September 20 called by several non-UPA parties to protest the Centre's decision to hike diesel price, allow FDI in multi-brand retail and limit subsidised cooking gas.
The minister gave an example of how in Kochi, the commercial capital of Kerala, there are shopping complexes and retail stores, but the blooming of such stores had no negative impact on the farmers and traders.
Opposition as well as UPA allies are in a mood to declare war on the Congress-led government on the FDI and fuel price issue, reports Renu Mittal
Prime Minister Manmohan Singh on Friday justified the decisions on allowing FDI in multi-brand retail and some other areas, saying these were aimed at pushing economic growth and generating employment in "difficult times".
Recent easing of restrictions does not address the pain in the sector.
While winding up his speech against foreign direct investment in multi-brand retail, All India Anna Dravida Munnetra Kazhagam member of Rajya Sabha V Maitreyan thanked all those who supported his stand and said the government had committed a blunder.
The demand for a Joint Parliamentary Committee probe into disclosures by retail giant Walmart on lobbying in India was made by several members in the Lok Sabha on Tuesday.
The city government will bring an amendment to the APMC Act for facilitating direct purchase of produce from farmers.
With the victory over FDI in multi-brand retail in Parliament, the Congress-led United Progressive Alliance is now gearing up for the party's all important 'Chintan Shivir' (brainstorming camp) next month.
A day after losing the battle with the United Progressive Alliance government in Parliament on the issue of allowing foreign direct investment in multi-brand retail, the National Democratic Alliance has threatened to reject the Union government's notification if it is voted to power in the 2014 Lok Sabha elections.
Glitches in the automatic vote recording system of the Rajya Sabha on Friday marked the crucial voting on the motion against Foreign Direct Investment in multi-brand retail which the government won. Even after voting was conducted twice, the final figure was corrected after scrutiny by officials of the Rajya Sabha secretariat late on Friday night.
This is the time to analyse the French fries served by McDonald's in India
Ally Nationalist Congress Party has asked Maharashtra Chief Minister Prithviraj Chavan not to take any decision regarding implementation of multi-brand Foreign Direct Investment in retail in the state without consulting it, even though the party voted in favour of the move in the Lok Sabha.
Renu Mittal analyses UPA government's 'victory' on FDI vote in Lok Sabha on Wednesday, and explains why the Congress-led coalition cannot afford to celebrate.
A total of 253 members -- out of the 471 present and voting -- voted against the motion against FDI moved by Leader of Opposition Sushma Swaraj, implying they were in favour of the foreign direct investment in multi-brand retail.
Do you, dear readers, believe that India needs FDI in retail sector or do you feel that it will be detrimental for the economy?
The one-year extension would give Walmart and its Indian joint venture partner in the cash and carry business, Bharti Group, more time to sort things out and decide on a retail foray together, people in the know said.
As Parliament on Tuesday began discussing Foreign Direct Investment in retail under a rule entailing voting, the Congress did not hide its displeasure over the "unhealthy precedent" that an executive decision has been put up for legislative vote.
Trinamool Congress, which had earlier been ambiguous on the rule under which the debate on Foreign Direct Investment should take place, on Tuesday moved a motion in Rajya Sabha seeking discussion with voting. "This House disapproves the entry of FDI in multi-brand retail," read the motion moved by Trinamool members D Bandopadhyay and Vivek Gupta under Rule 168, which entails voting.
Banks, real-estate sectors lead gains.
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Wal-Mart's "suspected bribery" unearthed in India involves thousands of small payments to low-level local officials.
Consensus eluded an all-party meeting called on FDI issue on Monday even as Samajwadi Party and Bahujan Samaj Party provided comfort to the government by not insisting on voting and Trinamool Congress springing a surprise by speaking in a similar tone.
On the eve of winter session of Parliament, the Bharatiya Janata Party on Wednesday alleged that the United Progressive Alliance government is pursuing anti-people economic policies like allowing FDI in multi-brand retail and, therefore, has no moral right to continue in office.
The National Democratic Alliance on Tuesday decided to bring a motion that entails voting against the decision on Foreign Direct Investrment in retail but kept open its options on a no-confidence motion in an apparent bid to not antagonise the Trinamool Congress.
A recent public interest suit in the Supreme Court over foreign direct investment (FDI) in retail may have thrown the industry into a tizzy, but lawyers, constitutional experts and government officials indicate the multi-brand retail FDI policy is unlikely to get derailed over Fema.
Many private equity funds and retailers, who have long-term vision, will come to India, says Biyani.
Banerjee alleged a section of the media was trying to create a bad propaganda revolving around Haldia, particularly the Haldia Dock Complex where everything was 'fine' and work had not been affected.
She wondered whether reforms meant pointing guns at farmers and that there would be no shopkeepers in the localities.
Leading corporate lawyers and accounting firms have swung into action to interpret the grey areas in the multi-brand retail FDI policy and suggest follow-up action to clients before they start striking deals.
Backing Centre's decision to allow foreign direct investment in multi-brand retail, Congress leader Rahul Gandhi has said the decision will help farmers prosper by removing middlemen from the supply chain and generate new jobs.
Wal-Mart India said it will "engage and work" with the new government and continue to focus on the cash and carry business in the country in the backdrop of Narendra Modi led BJP getting mandate to come to power at the Centre.
Alleging that Prime Minister Manmohan Singh has pushed the country's economy back to 1991 era of economic crisis, the Bharatiya Janata Party on Tuesday hit out at the Congress-led United Progressive Alliance government at the Centre for allowing Foreign Direct Investment in multi-brand retail.
