AAP government writes to DIPP, withdraws permission for FDI funded retail stores


AAP led govt has written to the department of industrial policy and promotion (DIPP) seeking to withdraw its permission to allow FDI in multi-brand retail.NEW DELHI: The Delhi government has officially shut its doors to foreign-owned supermarket groups from setting up shop in the country’s capital, creating fresh uncertainty for a sector that had only last month received its first investment proposal after a high-stakes policy change 15 months ago.

The Aam Aadmi Party-headed government has written to the department of industrial policy and promotion ( DIPP) seeking to withdraw its permission to allow FDI in multi-brand retail in the state, once again underscoring political risks from administrative changes to investments in the sector. Read more

Source: http://economictimes.indiatimes.com

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Categorised in: Retail, Sector News

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  1. Transforming India

    Here is a PARTIAL list of initiatives that may transform India – if successful

    But let not ” Fear of Failure ” prevent us from undertaking a ” Out of Box ” thinking

    In a democracy , people have a right to differ

    Hence , many will not agree – but they must have their say

    In the end , there is only ONE WAY to find what works – and what does not

    BY TRYING OUT !

    MY LIST ( not in order of importance or priority ) :

    > Food Security Bill

    > Connecting 2.5 lakh panchayats thru broadband

    > Aakash Tablets for 220 million students

    > Lokpal Act / Delivery of Services Act ( ” Magic Wand ” App ? )

    > Bank Transaction Tax / Demonetization of Rs 1000 currency note

    > Aadhar Identification Card

    > Electoral Reforms / Right to Recall ( ” VotesApp ” mobile App ? )

    > CAG audit of Private Companies using Government resources

    > 4G Wireless Internet all over India

    > Delhi Mumbai Industrial Corridor

    > Amritsar-Delhi-Kolkata Industrial Corridor

    > Natural Resources Allocation Policy

    > Political Party’s Funds under RTI scrutiny

    > Social Media based marketing

    > Liberalization in FDI ( Entire economy – not just retail )

    > Direct Transfer of Subsidies to poor

    > Government funding of Elections

    > Interlinking of Major Rivers

    > ” India Post Bank ” with 139,040 branches in Rural areas

    > Bank A/C for every adult by 2016

    > Divestment / Closure of loss-making / bleeding PSUs

    > Imparting skills to 500 million youth ( NSDC )

    Here are my own suggestions :

    > BLACK MONEY

    * As incomes climb ( for an individual or for a corporate ), reduce taxation
    rates for each higher slab ( reverse of present system )
    Eliminate incentive for tax – evasion
    Reward honesty / efficiency / productivity

    * Introduce Amnesty Scheme for black money declaration
    No questions asked ( re Source of funds ) for investment in specific
    Infrastructure Bonds , with tax – free interest for 10 years

    > JOBS

    * With ever-increasing mechanization / automation in every sector of
    economy , there is no way , we can create 12 MILLION new jobs ,
    either in Organized or Unorganized sectors , year after year

    Our only hope lies in creating ” SELF – EMPLOYMENT ”

    To generate massive self – employment , provide generous , low interest
    loans and ” Tax Free ” income (up to Rs 5 Lakh/ year) for self-employed

    * Create an ” Online Job Exchange ” to replace 943 existing physical
    Employment Exchanges , with 42 million current registrations

    Call it ” GLOBAL-RECRUITER ”

    Require ALL job-portals of India , to RSS feed into Global-Recruiter ,

    # Every single job advt posted everyday( including current )
    # Every resume posted everyday ( including current )

    Make these jobs and resumes ” searchable ” from ALL the job-portals ,
    irrespective of , on which job portal , these were posted

    After matching ” JOBS ” with ” RESUMES ” , Global Recruiter to send out
    daily Job – Alerts on the smart phones of the jobseekers , thru a mobile
    App , ” MY JOBS ” – against which , candidates can apply from mobile

    Make it mandatory for every Smart phone and Tablet sold ( or given away
    free ) in India , to pre-install ” My Jobs ” App

    And , most certainly , those 9 million Aakash – 4 tablets for which tender
    opens on 28th Jan 2014

    Will Narendra Modi / Rahul Gandhi / Arvind Kejriwal etc , incorporate these , in their poll manifestos for April 2014 election ?

    * hemen parekh ( 15 Jan 2014 / Mumbai )

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