India's government eases rules on retail FDI
Nine months after opposition forced India's government to put reform on hold, it has pushed through changes that will allow overseas retailers to invest in multi-brand outlets.
With India - and the prospect of wide-ranging economic reforms in the country - in the international business headlines, there are few other more opportune times to meet Rakesh Biyani, joint managing director of Future Group, one of the country's largest retailers.
Late last night UK time, the Indian government formally issued a notice to confirm reform of regulations on foreign investment in the country's retail sector would be implemented. A few hours later, an interview with Wal-Mart emerged in which it outlined its plans for expansion in the emerging market.
Attending events like the World Retail Congress allows access to senior executives beyond the food industry, which, on issues like sustainability, can reveal interesting insight. A session this morning (21 September) featured Ian Cheshire, chief executive of UK home improvement retailer Kingfisher.
India's plans to ease rules on foreign investment in retail have today (20 September) come into effect, even as protests against the policy took place throughout the country.
The MD of Indian conglomerate Bharti Enterprises, Wal-Mart Stores' retail partner in the country, expects the government to succeed with plans to allow more overseas investment in the sector.
India's Trinamool Congress Party is to resign from the country's governing coalition in protest over plans to open the door to foreign investment in the retail sector.
Criticised domestically and internationally for the perceived slow pace of reform, India's PM Manmohan Singh has launched his latest attempt to shake up the country's economy, including a relaxation of regulations on investment in the country's retail sector. Will Singh succeed this time?
The Indian government has again opened the door to foreign investment in the country's retail sector - but states will have the final say on whether multi-brand outlets backed by overseas capital can open.
More overseas investment would benefit India's retail sector, Tesco CFO Laurie McIlwee insisted today (8 December).
India's ruling Congress Party has today (7 December) confirmed that plans to allow more foreign investment in the country's retail sector have been suspended.
India's main business organisation is hopeful the country's government will press ahead with plans to open the retail sector further despite the plans being put on hold amid political opposition.
Leading domestic players in India's retail industry have highlighted the disagreement within the sector over the country's plans to allow greater foreign investment.
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