INDIAN RETAIL SECTOR STRUCTURE PUTS ON HOLD
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The major policy decision to open up the retail sector to foreign
transnational corporations amid widespread protests and the blocking
of parliamentary business by some coalition partners as well as the...
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INDIAN RETAIL SECTOR STRUCTURE PUTS ON HOLD
******
The major policy decision to open up the retail sector to foreign
transnational corporations amid widespread protests and the blocking
of parliamentary business by some coalition partners as well as the
opposition parties, forced to suspend
Following an all-party meeting, Finance Minister Pranab Mukherjee
announced on Wednesday that the plan would be put on hold pending
“consultation among various stake holders,” including opposition
parties and state chief ministers.
The announcement was welcomed
by opposition parties as well as key government’s allies—the
Trimamool Congress (TMC) and Dravida Munnetra Kazhagam (DMK)—
which have ended their parliamentary obstruction.
Expecting opposition, the cabinet decision on November 25 had been
hedged with conditions.
It allowed single-brand retailers such as Nike
to establish 100 percent foreign-owned businesses in India, but
required multi-brand retailers—supermarket chains like Tesco—to
have
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