New Delhi: India on Tuesday allowed 100 percent foreign equity in single brand retail, notifying the norms that, among other things, said all wholly owned international brands will need to source 30 percent of their requirements locally. The government justified the move, saying that foreign direct investment (FDI) in single brand will attract investments in production and marketing, improve the availability of such goods for the consumer and encourage sourcing...
07:41 PM, Jan 10, 2012
New Delhi: On a day when the Opposition has managed to get the government to holdback FDI in multi-brand retail, it is a different story on ground as farmers want FDI in the small town of Hapur. The claim is being made by a Walmart funded centre in Hapur that pays farmers more than double for their produce. CNN-IBN travelled to Hapur and found out that Walmart has come as...
01:40 PM, Dec 07, 2011
New Delhi: Foreign direct investment in the fast-growing retail sector will "significantly" boost hiring activities and has the potential to create about 80 lakh jobs in the country, predict experts. On November 24, the government allowed 51 per cent FDI in the multi-brand retail, paving way for global chains like WalMart, Carrefour and Tesco to open mega stores. It also removed the 51 per cent cap on FDI in single...
12:50 AM, Dec 07, 2011
Sceptics are worried that large deep-discount stores of transnational corporations will drive street vendors and neighborhood stores out of business. ...
11:15 PM, Dec 01, 2011
Ludhiana: In the midst of the political cross fire over the impact of retail foreign direct investment (FDI) on small traders, the question is will FDI in retail benefit farmers who would be the back bone for the supply chain to hyper markets. CNN-IBN traveled across villages in Punjab where Bharti Wal-Mart has been involved in sourcing directly from farmers. Far from the raging retail debate, about 130 farmers from...
09:44 PM, Dec 01, 2011
London: As India's guess work continues over how will Foreign Direct Investment (FDI) in retail affect small traders, Britain, in some ways, provides a model for what may happen, with several small retailers going under, but many others surviving and even flourishing. CB Patel runs some newspapers that are the voice of small businesses. He himself has been a retail businessman. When asked about the impact of the invasion of...
01:37 PM, Nov 30, 2011
There is a complete shutdown of shops as the traders want the Central government to have a complete rollback of its decision to allow FDI in retail. ...
03:42 PM, Nov 29, 2011
The Bharti Enterprises MD said retailers in Punjab are already reaping benefits with their retail schemes. ...
10:18 AM, Nov 29, 2011
New Delhi: The UPA Cabinet decision allowing Foreign Direct Investment (FDI) in retail is proving to be a major headache for the Congress-led Government as the Opposition and even some of its own constituents like the Trinamool Congress and the DMK have come out openly against the move and demanded an immediate rollback of the decision. The opponents of FDI in retail claim that the move will lead to large-scale...
01:35 PM, Nov 28, 2011
Lucknow: Chief Minister Mayawati on Sunday said FDI in retail sector would make Uttar Pradesh a bankrupt state and termed it as a move aimed at benefiting foreign friends of Congress leader Rahul Gandhi. "As the Congress supremo Sonia Gandhi is ill...the party has made internal decision to make Rahul acting party chief and Prime Minister in future. To please the yuvraj, FDI in retail has been allowed to benefit...
06:16 PM, Nov 27, 2011
Ahmedabad: Backing Central government's decision to allow Foreign Direct Investment (FDI) in multi-brand retail, former union minister Shashi Tharoor on Sunday said that it would generate additional employment opportunities. "Most countries have understood from experience that FDI brings in more investments from abroad. In most countries, FDI is a way of contributing to additional employment," the former minister of state for External Affairs said on the sidelines of a function...
03:51 PM, Nov 27, 2011
New Delhi: Under attack from the Opposition and UPA ally Trinamool Congress on allowing global retail chains in the Indian market, the government on Sunday launched a campaign to sell advantages of FDI in multi-brand retail. In a full page advertisement in newspapers, the Commerce and Industry Ministry said foreign direct investment (FDI) in multi-brand retail will help farmers, create more jobs and benefit consumers. It said there are several...
11:50 AM, Nov 27, 2011
New Delhi: With BJP, JD(U), AIADMK, BSP and Trinamool Congress strongly opposing FDI in multi-brand retail, global chains may face problems in opening stores in 28 of the 53 cities which have been thrown open to retailers like Walmart and Carrefour. The parties and alliances ruling in 11 major states have strongly opposed the decision of the Central government to allow foreign direct investment (FDI) in multi-brand retail which is...
10:33 AM, Nov 27, 2011
Chandigarh: The Reserve Bank on Friday expressed the hope that foreign direct investment in multi-brand retail will help in bringing down inflation. "..certainly it (FDI in multi brand retail) would help improve supply chain and we hope it should also contribute to reducing inflation," Reserve Bank of India (RBI) Governor D Subbarao said in Chandigarh. The Union Cabinet had on Thursday approved 51 per cent FDI in multi-brand retail, paving...
05:02 PM, Nov 25, 2011
New York: The world's largest retailer Walmart has termed India's decision to allow 51 per cent FDI in multi-brand retail as a 'first important step' and said it will study the finer details of the new policy to determine the impact on its ability to do business in India. Walmart, which has been waiting in line with other global retailers like Carrefour and TESCO to tap the growing and lucrative...
10:34 AM, Nov 25, 2011
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