The government-appointed panel, looking into possible irregularities in Walmart's US lobbying activities for entering the Indian market, is expected to meet senior executives of the retail giant this week to gather more information. ...
03:28 PM, Mar 17, 2013
The debate on foreign direct investment (FDI) in retail began in Parliament on Tuesday with the United Progressive Alliance (UPA) government and the Opposition attacking each other. The Opposition attack was led by Leader of Opposition in Lok Sabha, Sushma Swaraj, while the defence of the government was presented by Union Telecom Minister Kapil Sibal. ...
07:14 PM, Dec 04, 2012
New Delhi: The Trinamool Congress is planning to hold a 48-hour long demonstration at the Jantar Mantar in the capital starting Monday against price rise and the Centre's decision to introduce foreign direct investment (FDI) in multi-brand retail. Party chief Mamata Banerjee had withdrawn support to the UPA in September this year over the "big bang reforms" introduced by the Centre which included a cap on subsidised LPG cylinders and...
08:53 AM, Nov 19, 2012
New Delhi: World's largest retailer Walmart is investigating allegations of corrupt practices against it in foreign markets, including India. The US company had begun a probe in March last year after allegations of bribe surfaced in Mexico. The probe under the Foreign Corrupt Practices Act is now being extended to Brazil, China and more significantly to India. The US Act bars bribing officials of foreign governments. Walmart has a a...
09:21 AM, Nov 17, 2012
Chennai: Continuing the suspense over its stand on any Opposition-sponsored resolution in Parliament against FDI in retail, crucial UPA ally DMK on Wednesday said that its decision would be taken keeping in mind the interest of small and medium traders. "Small and medium retail traders in Tamil Nadu are apprehensive that Foreign Direct Investment would greatly affect them. We would discuss and take a decision on this (FDI) keeping their...
05:13 PM, Nov 14, 2012
India Inc has applauded the reform measures introduced by the UPA that include 51 per cent foreign direct investment in retail amongst others. While a few of UPA's allies like the DMK have refused to support it, the corporate sector has welcomed the reforms. Adi Godrej, President, CII and Chairman, Godrej Group, called it a "good move" by the government. ...
04:01 PM, Oct 05, 2012
West Bengal Chief Minister Mamata Banerjee has been pushing for a no-trust motion in Parliament over FDI in retail. On Thursday, she appealed to UPA partners to quit the alliance over retail FDI. While the Samajwadi Party is buying time, the DMK has made its anti-reforms stand clear. Meanwhile, Biju Janata Dal (BJD) chief Naveen Patnaik has refused to commit over the issue. ...
03:52 PM, Oct 05, 2012
New Delhi: The Congress on Wednesday dubbed as "melodramatic" the agitations on the issue of FDI in retail and taunted its critics that the parties which had opposed the Indo-US nuclear deal were defeated in the last Lok Sabha elections. Party spokesman PC Chacko told reporters that Assembly elections in Gujarat and Himachal Pradesh would provide it an opportunity to reach out to the people on the FDI issue on...
11:16 PM, Oct 03, 2012
Chennai: The UPA Government's decision to allow FDI in multi-brand retail will help increase productivity and ensure an efficient foodgrain distribution network to tackle high food prices, RBI Deputy Governor Subir Gokarn said in Chennai on Wednesday. "The ultimate solution to high food prices is very simply more production of things that people consume more. You might debate the merits and demerits of FDI in (multi-brand) retail. But let's focus...
02:49 PM, Oct 03, 2012
New Delhi: Seeking to punch holes in the Bharatiya Janata Party's Opposition to allowing Foreign Direct Investment in multi-brand retail, Union Commerce Minister Anand Sharma on Monday said the NDA government had readied a Cabinet note favouring 100 per cent FDI in the sector. Addressing a gathering of Congress supporters in New Delhi, Sharma lambasted the BJP for trying to "mislead" the country on the issue and asserted that UPA...
05:33 PM, Oct 01, 2012
New Delhi: Congress leader and Union Law & Justice and Minority Affairs Minister Salman Khurshid has taken on Trinamool Congress supremo Mamata Banerjee over her protest at Janatar Mantar in New Delhi against foreign direct investment in multi-brand retail. Claiming that Mamata's support base is limited to West Bengal, Khurshid said that her views on economic reforms are different from those of the Congress's. "There was stress on us when...
11:33 AM, Oct 01, 2012
Karan Thapar: Hello and welcome to Devils Advocate. How do businessmen respond to the claim that FDI in retail is bad for India and Walmart in particular perhaps a disaster? Those are the key subjects I should raise today with the Vice Chairman and Managing Director of Bharti Enterprises Rajan Mittal. Mr Mittal lets start with the claim that FDI in retail will have an adverse impact on small retailers...
09:30 PM, Sep 30, 2012
New Delhi: Union Law Minister Salman Khurshid on Thursday slammed ex-ally Trinamool Congress chief Mamata Banerjee saying her remarks on the UPA and the Congress were not reasonable. Mamata, in an exclusive interview to IBN18 Editor-in-Chief Rajdeep Sardesai, had claimed that the UPA ran on 'money and muscle power'. Khurshid said that it was 'good alliteration but not reasonable politics'. "She has her compulsions. The language probably appeals to her...
11:54 AM, Sep 27, 2012
New Delhi: Hitting out at the United Progressive Alliance (UPA) government over the recent reform measures, the Bharatiya Janata Party (BJP) has said that it will scrap foreign direct investment (FDI) in retail if voted to power. The announcement was made on Wednesday by BJP vice president Mukhtar Abbas Naqvi. This comes after key NDA ally, the Shiromani Akali Dal (SAD) broke ranks with the alliance saying it supported FDI...
05:11 PM, Sep 26, 2012
Indore: Stating that foreign direct investment (FDI) in retail is allowed only in cities with population of more than 10 lakh and not at villages, Union Minister of State for Industry and Commerce Jyotiraditya Scindia on Friday said the Bharatiya Janata Party (BJP) is creating a "negative mayajal" on FDI with Bharat Bandh. FDI in retail, as notified by the Centre, would only enter the cities with population of more...
08:00 PM, Sep 21, 2012
New Delhi: On a day when the entire Opposition along with some parties close to the Congress was busy enforcing the Bharat bandh, the United Progressive Government sent a strong message, saying it has many friends while ruling out putting on hold foreign direct investment (FDI) in multi-brand retail. Finance Minister P Chidambaram on Thursday claimed that there was no threat to the UPA Government despite Mamata Banerjee's Trinamool Congress...
02:38 PM, Sep 20, 2012
Guwahati: The Bharat bandh called by the BJP and other opposition parties to protest the diesel price hike, FDI in multi-brand retail and cap in subsidised LPG affected normal life in Assam. Markets, shops, educational institutions, banks and private offices remained closed, while long distance private buses and other vehicles were off the roads, officials said. Though privately operated city buses did not ply, the government-run ones were seen on...
02:25 PM, Sep 20, 2012
Kolkata: Life in the city and elsewhere in West Bengal was disrupted by a 12-hour bandh called by Left parties to protest diesel price hike, FDI in multi-brand retail and cap on subsidised LPG. Though airport services were normal, train services in Eastern Railway and South Eastern Railway were disrupted, officials said. Running of trains in South Eastern Railway to and from Howrah were disrupted since 8:30 AM due to...
12:03 PM, Sep 20, 2012
Mumbai: The nation-wide bandh called by the BJP-led NDA and other Opposition parties to protest fuel hike and FDI in retail evoked little response in the metropolis on Thursday owing to Ganesh festivities across Maharashtra. The Shiv Sena and Maharashtra Navnirman Sena (MNS) have kept away from the day-long bandh due to the festival. BJP leaders including Deputy Leader in Lok Sabha Gopinath Munde and Leader of Opposition in Maharashtra...
12:00 PM, Sep 20, 2012
Patna: The opposition-sponsored Bharat bandh against FDI in multi-brand retail and diesel price hike began on Thursday morning with protesters disrupting road and train services across Bihar. A group of BJP workers blocked rail traffic at Patna junction and stopped movement of a number of long distance express and passenger trains, official sources said. The protesters shouted slogans against the UPA government at the Centre demanding roll back of FDI...
11:48 AM, Sep 20, 2012
