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Reply #65: 'Big-box' protests test India's FDI strategy [View All]

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xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-02-11 09:20 AM
Response to Reply #32
65. 'Big-box' protests test India's FDI strategy
http://www.atimes.com/atimes/South_Asia/ML03Df01.html

The furious domestic reaction in India, including nationwide protests, to the government's decision to allow foreign big-box retailers such as Walmart to enter the local market shed new light on how far India still has to go in opening up to foreign direct investment (FDI).

On Thursday, small neighborhood kinara shops closed their doors in an act of solidarity and protest over the government's plans. Many outside the country are perplexed over what to make of the loud resistance to what they assumed would be a reasonably easy domestic reform for the Indian government to enact.

For US-India economic ties, the last two weeks have been some of the most interesting in several years. The Indian cabinet voted


last Thursday to allow 100% FDI into what are called "single-retail brand" operations, which are cash-and-carry stores that, according to the Wall Street Journal can "only sell to other retailers and businesses", and 51% FDI into what the government calls "multi-retail brand" stores.

The Indian retail market, currently estimated to be worth $295 billion, is a highly fragmented opportunity that offers much of the same allure to big-box retailers as does China's since both countries appear to be developing increasingly vibrant middle classes.
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