Parliament panel says no to FDI in retail
Economic survey ignores the recommendation
a parliamentary committee has recommended a complete ban on foreign direct investment (fdi) in retail trade in grocery and food products. The committee has also opposed entry of Indian corporate houses in retailing and sale of their products in malls.
The report tabled in the Rajya Sabha on June 8 said pricing tactics adopted by retail chains would lead to job losses and force small stores out of business (an estimated 200 million people may lose jobs). Global and corporate retail chains would dictate wholesale and retail prices and this would lead to unfair practices, the report said while recommending a policy to re-employ those rendered jobless by the retail chains.
India