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xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-05-11 07:38 AM
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33. south asia: India in bind, may delay coming of foreign retail

MUMBAI, India (AP) -- Stock prices of Indian retailers plunged Monday after a key coalition ally and opposition politicians said the government had put on hold its decision to throw open the country's huge retail sector to foreign investors, in a potentially damaging setback for India's beleaguered ruling party.

The government has not officially announced a change in its policy on foreign direct investment, but a reversal would be an embarrassment for the ruling Congress party, which has been scrambling to reassert its leadership and kick-start investment in the deteriorating economy.

The government's failure to clarify its position wreaked havoc with shares of Indian retailers, which earlier had risen on hopes they would enter joint ventures with foreign retailers. Jittery investors drove shares in Pantaloon Retail down 12.9 percent and Treat closed down 3.3 percent.

The furor over whether to allow chains such as Wal-Mart to open supermarkets in major cities has deadlocked Parliament, with many politicians slamming the decision as a job killer for India's small retail shops. Proponents say it would bring needed investment into India's infrastructure that would result in higher incomes for farmers through less waste of their produce and cutting out the middleman. Greater competition and efficiency would benefit consumers by keeping retail prices down.
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  -STOCK MARKET WATCH, Monday, December 5, 2011 Pale Blue Dot  Dec-05-11 05:48 AM   #0 
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     - Works for me!  Demeter   Dec-05-11 08:08 AM   #40 
     - But at least Berlusconi...  AnneD   Dec-05-11 11:44 AM   #59 
     - +1 n/t  Hotler   Dec-05-11 09:16 AM   #47 
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        - Too bad we don't have a real leader, a real world leader...  Hotler   Dec-05-11 04:41 PM   #72 
  - morning...morning...morning...  xchrom   Dec-05-11 06:38 AM   #12 
  - yeah. whatever  Tansy_Gold   Dec-05-11 06:44 AM   #15 
  - ...  xchrom   Dec-05-11 06:52 AM   #19 
  - How about a happy pic for Monday???  Roland99   Dec-05-11 07:00 AM   #20 
  - wow -- is that your wedding?  xchrom   Dec-05-11 07:02 AM   #22 
  - that was right after we sat at our table at the reception  Roland99   Dec-05-11 07:17 AM   #25 
     - well your happiness is catching -- that's a wonderful picture  xchrom   Dec-05-11 07:22 AM   #26 
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  - +1 n/t  Hotler   Dec-05-11 09:49 AM   #53 
  - south asia: India in bind, may delay coming of foreign retail  xchrom   Dec-05-11 07:38 AM   #33 
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  - I have no hope. I see no future. eom.  Hotler   Dec-05-11 09:57 AM   #54 
  - Fudd!!!!!  AnneD   Dec-05-11 10:39 AM   #57 
     - You're confusing turkeys with Pennsylvanians.  Fuddnik   Dec-05-11 11:53 AM   #60 
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           - You guys have me in stitches...  AnneD   Dec-05-11 03:21 PM   #67 
  - Morning Marketeers....  AnneD   Dec-05-11 10:28 AM   #56 
  - kicking. n/t  Hotler   Dec-05-11 11:28 AM   #58 
  - NOW it's snowing  Demeter   Dec-05-11 02:04 PM   #65 
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        - What is it girl...  AnneD   Dec-05-11 04:13 PM   #70 
           - While someone else has tunneled into the well and is removing the cash  plumbob   Dec-05-11 04:37 PM   #71 
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        - Stand back! This festering sore is about to pop. eom.  Hotler   Dec-05-11 05:04 PM   #74 

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