Arab Today, arab today indian govt suspends retail reform
Last Updated : GMT 12:19:39
Arab Today, arab today
Arab Today, arab today

Indian govt suspends retail reform

Arab Today, arab today

Arab Today, arab today Indian govt suspends retail reform

New Delhi - AFP

India on Wednesday suspended its decision to open the country\'s giant retail sector to foreign supermarkets, Commerce and Industry Minister Anand Sharma said. \"The decision to allow foreign direct investment in retail is suspended until consensus is reached with all stakeholders,\" Sharma told reporters after an all-party meeting aimed at breaking a parliamentary logjam over the retail reform issue. The rollback is a damaging blow to Prime Minister Manmohan Singh\'s administration, which announced just two weeks ago that it had approved the long-awaited changes in investment legislation. The entry of international chains such as Wal-Mart, Carrefour and Tesco into India could herald a consumer revolution as shoppers move from small, neighbourhood stores to large, \"big box\" supermarkets. But anger over the reforms has united small shopkeepers, trade unions, influential state leaders and lawmakers both from opposition parties and from within the ruling coalition. Noisy protests by lawmakers have paralysed parliament every day since the reform was announced. Observers said the government\'s capitulation was likely to fuel criticism of indecision and policy drift within Singh\'s administration. Under the reform plans global firms would be able to hold a 51 percent stake in supermarket chains, changes widely seen as a threat to many of India\'s local stores. The government and many industry leaders had argued that a modern retail system would mean more choice and lower prices from consumers, create new jobs and enable farmers to reduce wastage. The sector is worth an estimated $470 billion in annual sales, with high growth potential as India\'s 1.2 billion people move towards a more Western-style consumer economy.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today indian govt suspends retail reform Arab Today, arab today indian govt suspends retail reform

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today indian govt suspends retail reform Arab Today, arab today indian govt suspends retail reform

 



Arab Today, arab today Designer Rania Adel reveals her new collection

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 23:13 2017 Sunday ,18 June

New ransomware virus attacking mobiles in Oman
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday