India allows FDI in multi-brand retailSeptember 14th, 2012 - 7:31 pm ICT by IANS
New Delhi, Sep 14 (IANS) Just a day after announcing the steepest ever hike in diesel price, the government Friday took another politically contentious decision of allowing overseas investments in multi-brand retail.
The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Manmohan Singh, decided to allow up to 51 percent foreign direct investment (FDI) in multi-brand retail.
This paves the way for the global retail giants like Walmart and Carrefour to open their stores in India.
The cabinet, in November last year, had decided to allow up to 51 percent FDI in multi-brand retail. But the move was kept in abeyance following protests from opposition as well as some of the allies of the ruling United Progressive Alliance (UPA), especially the Mamata Banerjee-led Trinamool Congress.
- States have prerogative not to allow FDI in multi-brand retail: Government - Sep 18, 2012
- Finance ministry okays FDI in multi-brand retail - Nov 17, 2011
- Sharma seeks Punjab, Haryana's support for FDI in retail - Jul 18, 2012
- No reversing decision on FDI in multi-brand retail: Sharma - Jul 27, 2012
- Don't roll back reform measures: FICCI - Sep 19, 2012
- Don't roll back reforms under pressure: India Inc (Lead) - Sep 19, 2012
- FDI in retail: Walmart and corner stores can co-exist - Sep 02, 2012
- No rollback of diesel price hike, FDI in retail: Chidambaram - Sep 17, 2012
- Only 4 states, UTs support FDI in retail: Government - Aug 08, 2012
- FDI will help create 1 crore new jobs in retail: Government - Sep 21, 2012
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