On allowing FDI in defence sector, the BMS said it was not good for the country.
AAP should seriously reconsider their economic approach and probably induct the right people to formulate policies on various issues rather than have policies based on sentiment. Every such disastrous step has the power to come back to haunt the present or, probably worse, the future governments.
Though the AAP's decision was no surprise as it is in line with its promise to traders in its election manifesto, Commerce Minister Anand Sharma, who has been trying his level best to get foreign retailers sign up, is clearly irked.
Asia-CEO of retail giant Walmart, Scott Price, will meet with Commerce Minister Anand Sharma on 1 November to seek clarification on India's retail policy, CNBC-TV18 reported today. <br /><br />
Despite India relaxing a further set of rules governing foreign investment in its retail sector, US retail giant Walmart called off its six year partnership with the Bharti Group while other retailers are now going slow on expansion.<br /><br />
With the critics of the retail FDI policy gaining in strength, the lack of consensus on the issue is becoming clearer.
Unless the regulatory framework improves, foreign retailers would continue to be cautious about India. Most international players have already put their India plans on the back burner given uncertainty in the political space since general elections are due in 2014.
FDI can create opportunities for small businesses, for farmers, spur investment in infrastructure and bring benefits to consumers as well as lower food prices. FDI in retail will grow markets in India as it has in China, Brazil and many other developing economies, said the State Department spokesman, Mark Toner
Chairman of West Bengal's Left Front Biman Bose today said that Left parties would oppose FDI in retail in Parliament and also campaign outside.
Cultural mindset of the population, large-scale loss of jobs, and stability of the average prices of products are some of the problems faced by MNCs which wish to enter the Indian retail sector
Ever walked into a Spencer's for three things and walked out with two bursting bags? Get ready to mutiply that experience five fold if and when Wal-mart comes to India. Forget the kirana owner, is the middle class ready for the big box store?
At stake is a percent stake. Bharti Enterprises has said it is hopeful of setting up a 50:50 joint venture with Wal-Mart, while the US retailer has said it would look for a majority stake in a joint venture.
Even though Bharti Wal-Mart plans on rolling out its first Indian retail store in 12-18 months, the availability and cost of real estate in India, especially in the metros, is very high and could prove to be a challenge for the low-price retailer.
The government is rushing through reforms but has now decided to not allow online sales by firms with foreign ownership. The step is likely to be a huge dampener as the global retail space is increasingly tilting towards e-commerce.
Kiranas are in every nook and cranny of densely populated neighbourhoods, whereas domestic supermarkets are mostly found in shopping malls. With land at a premium, foreign supermarkets will likely have to set up shop outside the main cities.