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Indian Government announces FDI in many industries!!

I disagree. 70% is from China. Don't be naive man! Everything I see, it's Made in China.

And why are Indians booing this? Ok, I agree there may be risks in this decision, but how do we grow without taking risks? We are not diffusing a bomb here, it's not a 50:50 situation.... if it adversely affects our economy, we can always go back to earlier policies.

And please remove misconceptions, most products in India are already Made in China. Made in India? oooooh! Magical Indian factories in the sky make them? Come on! Don't be naive! If India doesn't need Made in China, let it grow it's own industries!


Can you name one Chinese brand other than Lenovo that's popular in India?. Before ooh - aahing it would be advisable that you do some research.

What kind of stores do you visit.

Most probably the one dollar stores or the 10 rupee stores - in the early 2000's I remember lot of these makeshift stores that came up which sold anything for 10 rupees and all these were imported from China.
 
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FDI in retail is a must , given the urgent need to boost the economy .... hope no political interference comes in ...

On-the-ground example :

Today I went to buy chicken and along with it tartar sauce at my local shop, the shopkeeper tells me .."Sorry sir , we have only 3 brands of tartar sauce available now, let the FDI in retail come in sir , you will then have choices in tens and hundreds.... it will bring in a revolution to how stuff like meat is processed , transported , stored and distributed to shops like us"
 
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I disagree. 70% is from China. Don't be naive man! Everything I see, it's Made in China.

And why are Indians booing this? Ok, I agree there may be risks in this decision, but how do we grow without taking risks? We are not diffusing a bomb here, it's not a 50:50 situation.... if it adversely affects our economy, we can always go back to earlier policies.

And please remove misconceptions, most products in India are already Made in China. Made in India? oooooh! Magical Indian factories in the sky make them? Come on! Don't be naive! If India doesn't need Made in China, let it grow it's own industries!

Food items sold in supermarkets are products of India, there are imported food items also but they too expensive to attract people to buy them. If you are talking about Chinese goods even a small store or roadside cart owner sell lots of cheap Chinese goods.

So, I don't believe Chinese products is going to be much difference but FDI in retail will surely help in proper warehousing to stop wastage of agricultural products.
 
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Give me my local tiny corner shop any day!

So, that’s it then.

Walmart, Tesco, Carrefour will soon be here in our cities, offering us - what ? - 14 varieties of ketchup, and imported jam, and other stuff that we never knew we needed until they tempted us.

I may well be a product of the west, but having lived away from Blighty for many more years then I lived there, I regard the west now with affectionate amazement. Supermarkets and, even worse hypermarkets, overwhelm me. They fill me with disbelief at the rampant consumerism of the west.

Just how much choice does a person need? Seriously. Even the tiny mini-marts in England offer you a confusing choice of something as basic as milk. Full, skimmed, semi-skimmed, half cream, full cream. Yes, yes, yes, I’m all for choice, but must everything be a multiple choice question ?

Give me my local tiny, jam-packed shop in my scruffy market any day.

Not only do these little desi mom-and-pop stores stock an astonishing variety of goods, if they don’t have exactly what you want, they will send out for it in a jiffy – from the mom-and-pop joint across the street, more often than not.

It always fascinates me how the task of shopping can be made so utterly simple in India. My local kirana shop is underground. No shop window, no frontage, just steps down into a basement which is always deliciously cool, even in the height of a Delhi summer. The friendly owner sits behind the counter, and if you cannot be bothered to walk up and down his minuscule aisles, all you need to do is ask him and he will tell one of his employees to get your stuff. You can stand there like a lazy pasha, and someone else will rootle through the stacked shelves for you.

Though rootling and fossicking in the tiny shop is one of life’s pleasures, with that delicious, distinctive oh-so-Indian aroma of spices and God knows what.

The staff all know where every last little thing is, even if your particular brand of shampoo is triple-stacked and completely hidden.

Toothbrushes are hugger-mugger with batteries that are stacked next to imported breakfast cereals which have packets of yeast balancing on top of them – you never know what you will find.

Then there are the fascinating one-offs, slightly squashed and battered things that people have obviously bought overseas, stuffed in their suitcases and then sold onto the kirana store. There will be a stray, slightly crumpled box of Tesco’s mince pies (hah, Tesco, take that). Conditioner with the price in Thai Baht. Ridiculous looking breakfast cereals with American $ price tags on, all evidence of a much more exotic food supply chain than Walmart or Carrefour could ever dream of.

And then, of course, there is the standard 20 per cent discount we regulars at the underground store get. I reckon it’s because the owner doesn’t have expensive rates nor rent to pay (not having a shop window, you understand) and so he thoughtfully passes some of the benefit onto us.

And never forget the interest-free credit he gives. If you end up buying more Thai conditioner than planned, or you forget your wallet, koi bat nahi, he notes down the amount and breezily trusts you till next time.

And if there’s too much stuff to carry, or it’s heavy, it all gets delivered. Free. I once walked home chatting to the bloke carrying my shopping in a cardboard box balanced on his head.

And when we run out of something but are feeling too lazy to walk the 500 yards down the road to the underground store, you call up and they deliver. Free.

So please tell me, why on earth would I get in my car (which costs money, never forget) and drive through Delhi’s lunatic traffic (which is uber-stressful and time-consuming) to shop at a Tesco or a Walmart or a Carrefour in impersonal, antiseptic surroundings, pushing a trolley, and then having to decide which of 17 varieties of mustard I want ?

Count me out.

And I bet you the cashiers at these brand new supermarkets won’t chat with customers about the weather nor moan about the government or the cricket, will they? Nor will they have Hindi serials playing quietly in the background.

Give me my tiny, cramped local store any day.
 
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BJP gives 10 reasons why FDI in retail will hurt

1. In the first instance, manufacturing sector jobs will be lost in India. Domestic retail primarily sources locally. International structured retail sources internationally, leading to a drop in domestic manufacturing. This is all the more significant since India has not carried out significant manufacturing sector reforms.

2. International structured retail doesn’t create additional retail jobs, it merely displaces existing jobs.

3. Only 18 percent of the Indians are in structured jobs; 51 percent of India’s working population is self-employed. Along with agriculture, retail trade constitutes the largest fountain of self-employed jobs. Structured international retail will be harmful to job creation in India.

4. Fragmented markets serve the public interest much more than consolidated markets. In the first 12 years of opening up retail for FDI, Thailand saw 38 percent of its consumer market consolidate in favour of three large retailers.

5. The oft-quoted example of China is misconceived. China as a low-cost economy is the predominant and largest supplier to the big retailers. It can’t be argued that goods manufactured in China will not be sold only in China.

6. International retailers proceed on the principle of “buy cheap and sell costlier”. The initial low prices facilitated by the deep pockets of retailers results in eliminating competition and then raising prices.

7. It is a myth that middlemen will be eliminated and the benefits will go to producers/farmers. The benefits of eliminating middlemen goes to the retailer and not substantially to farmers/producers. International Farm Companies Network (IFCN) data shows that in the US a milk producer gets 38 percent of every consumer dollar spent. In the UK this figure is 36 percent. In India, riding on the strength of the cooperative movement, milk producers get 70 percent of every rupee spent by the consumer.

8. The argument that back-end operations such as cold chains and transport infrastructure will benefit from international retailers is baseless. Building a cold chain is not rocket science; why can’t building cold chains, or rural farm roads coexist with MNREGA?

9. The basic principles of trade negotiations have been ignored while making concessions to the US and EU by agreeing to their proposal on big retail without any corresponding quid pro quo.

10. That an option has been given to the states to implement FDI is a myth being spread to mislead people. FDI is a central subject and not a state subject. International treaties on investment, to which India is a party, require a “national treatment”. The deception is a trap for future litigation which may force all states to accept FDI in retail.

BJP gives 10 reasons why FDI in retail will hurt | Firstpost
 
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India rejects UPA's fuel price hike, LPG cap, corruption, FDI, even PM: Poll

Feeling the pinch of the fuel price hike, the urban middle class has dealt a severe blow to the Manmohan Singh Government, giving the Prime Minister's push for reforms a big thumbs down. The aam admi, Congress' target group, feels the government has not just lost credibility in the face of corruption charges, but also that its policies are burning a hole in their pockets.

A CNN-IBN survey conducted across six urban cities shows that 57 per cent feel UPA 2 has failed its battle against inflation. The other big let down is corruption with 32 per cent of the respondents claiming it’s a matter of concern.

After Mamata's exit, UPA 2 is struggling with numbers but adding to the nightmare are DMK and NCP who're now demanding a rollback of reforms. The Congress may try to appease its allies with sweet deals but the aam admi is gunning for its head.

When asked if the government's decision to hike diesel prices is justified, 87 per cent said no and that's a figure the government needs to worry about, and revamp its game-plan for 2014.

The decision to reduce the cap on subsidised LPG cylinders to 6 is hurting every kitchen as had been predicted by the Left and other opposition parties.

The government stands isolated with 93 per cent of Indians saying the move is unjust. In capital Delhi 99 per cent of the respondent have voted against the government's move.

So what should the limit on the number of subsidised LPG cylinders in a year be? The people of India say a realistic one cylinder per month is an essential requirement.

Battling negative public perception here's another shocker for the government. Dr Manmohan Singh's push for FDI in retail, a move clearly aimed at winning the support of the urban middle class has backfired at well.

A vehement no coming from 76 per cent of the respondents when asked if they think FDI in retail is a correct decision.

We asked – what will be the impact of FDI in retail?

Fifty-three per cent think neighbourhood shops will be out of business and 23 per cent say the consumer will be the biggest gainer because of competitive pricing. Remember trade unions are a major votebank for political parties and the UPA cannot afford to get on their wrong side.

Under attack from the opposition, isolated by its close ally the TMC, desperately trying to hold on to the DMK and NCP as they too demand a rollback will UPA 2 be able to complete its full term?

Almost 41 per cent say no and 14 per cent claim there could be snap polls this year itself.

The government is clearly losing the people's trust and the Prime Minister is leading the nose dive. Labelled Underachiever by Time Magazine Dr Manmohan Singh seems to inspire no confidence among Indians either.

A vast majority - 67 per cent - say they have no faith in their Prime Minister and do not think he's capable of bailing the country out of the current economic crisis.

But even as the Prime Minister's popularity hits a new low, Mamata seems to have gained immensely by walking out of the UPA. Riding her pro-people and pro-poor agenda Mamata's strong stance is being hailed by the common man. Sixty-seven per cent support her decision to withdraw support and 64 per cent feel she's shown strong political will.

India rejects UPA's fuel price hike, LPG cap, corruption, FDI, even PM: Poll - India News - IBNLive

intresting results ...this shows Manmohan's reform measures failed to make an impact
 
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Rupee at near 6-month high against dollar

The Indian rupee rose to a near six-month high in opening trade on Friday after the government took more reform measures to attract foreign investment.

MUMBAI: The Indian rupee rose to a near six-month high in opening trade on Friday after the government took more reform measures to attract foreign investment.

The Union Cabinet approved bills on Thursday to attract foreign investment into insurance and pensions among new measures to restore confidence in the economy, although the reforms will face a tough fight in parliament.

Positive global risk sentiment and a stronger euro also aided gains, dealers said.

At 9.02am, the rupee was at 51.43/45 as against 51.74/75 Thursday close. It rose to 51.32, its highest since April 13.

Cabinet approves 49% FDI in insurance, 26% in pension sector


http://timesofindia.indiatimes.com/business/india-business/Big-bang-reforms-Cabinet-approves-49-FDI-in-insurance-26-in-pension-sector/articleshow/16670215.cms
 
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