Retail derailed - but can you stop the money trail?

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Even as the government is pussyfooting on FDI in retail, global retail giants seem to have taken the wind out of the debate by moving ahead and charting their India entry- policy encumbrances notwithstanding! For starters, the government's placatory gesture in 2005 of permitting 51% FDI in same-brand stores came a little late- considering most of the big guns were already here (read: McDs, Nike, Marks & Spencer) through the franchisee route naturally. Market gurus for the longest time were skeptical about Wal-Mart's immediate plans for India. Why would the world's largest company settle for a mere 46% stake in its India venture (if and when that happened!) The buzz on the street was that the company would possibly enter only after a government assurance of hiking that FDI limit to over 70%. But the behemoth didn't exactly wait on the whims and reservations of the Indian government.....