Tag: Retail and Wholesalers

Defence FDI okay, not retail; scrap coal blocks: Jaitley

Bhartiya Janata Party (BJP) continues to oppose the opening of retail sector to foreign investors as it will affect millions of small traders and result in job losses. Speaking to CNBC-TV18’s Shereen Bhan, about BJP’s economic policies, BJP spokesperson Arun Jaitley said the party is against allowing FDI in multi-brand retail but may selectively accept… Read More ›

Indian retail market set to touch $865 billion by 2023

MUMBAI, JAN 27: Foreign direct investment (FDI) by multinational food processing companies has shot up to $2.14 billion in the country between April and October 2013, and continues to increase significantly. The Indian retail market, currently estimated at $490 billion, is project to grow at a compounded annual growth rate of 6 per cent to… Read More ›

Retail policy should be encouraging to all players

India has to have a policy that allows foreign players as well as the local players to grow, allowing local businesses to learn the best practices, said retail market expert Venkatesh Shankar. Speaking on the sidelines of Guru Speak 2013-14, a seminar organised by IIM Calcutta Alumni Association, Chennai chapter, Shankar, Coleman Chair Professor in marketing, said, “Indian… Read More ›

Retail inflation for farm, rural workers soften in December

Retail inflation for farm workers and rural labourers fell to 11.19 per cent and 11.18 per cent respectively in December due to easing of food prices. The respective rates of price rise were 13.43 per cent and 13.27 per cent in November last year. The overall Consumer Price Index-Agricultural Labourers (CPI-AL) and Consumer Price Index-Rural… Read More ›

RBI panel wants retail inflation as new policy benchmark

The Urjit Patel committee on monetary policy framework has proposed setting up of a monetary policy committee (MPC) that will be headed by the Reserve Bank of India (RBI) governor and accountable for achieving inflation target set by it. The report of the Patel committee, set up by RBI in September last year, has recommended… Read More ›

AAP must use FDI power, can’t depend on 40s’ economics: Narayana Murthy

The opposition to the Aam Admi Party’s economic policies is getting louder from its industrialist supporters. After Captain V Gopinath, now Infosys Executive Chairman Narayana Murthy has raised concerns over the party’s decision to disallow FDI in the retail space. Murthy said that in winning the Delhi elections AAP did a good job. “They spent… Read More ›

Global retailer Wal-Mart sets up new company in India

NEW DELHI: Global retail giant Wal-Mart has registered a new company in India as it prepares to enter the country’s lucrative multi-brand retail market with a new partner. The American retail major and Bharti Enterprises decided to part ways in October last year, bringing an end to their six-year long partnership. The retailer has registered… Read More ›

AAP move to disallow FDI in retail irresponsible’

Terming the Delhi government’s decision to not allow FDI in multi-brand retailing as “abrupt, irresponsible and ill-considered,” commerce and industry minister Anand Sharma on Tuesday said India is not a banana republic where policy decisions can be reversed. The ministry, he said, will examine the communication of the newly installed Aam Aadmi Party-led Delhi government… Read More ›

Blocking retail FDI to rob India of 1cr jobs

NEW DELHI: The refusal by the Aam Aadmi Party (AAP) to allow foreign retailers to set up shop in the national capital will block creation of new jobs, dash hopes for consumers and create policy uncertainty for global chains. The move comes at a time when several global retailers led by Tesco are planning to enter the multi-brand retail… Read More ›

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

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… Read More ›