Bowing to intense pressure from within and outside, government today announced suspension of its decision to allow FDI in retail, bringing Parliament back to business after nine days of logjam.
The breakthrough in the standoff came at an all-party meeting this morning where the government made the offer to put on hold the Cabinet decision to allow 51 per cent FDI in multi-brand retail and the Opposition agreed to it.
My take: FDI in retails would definitely have been a boon for the consumers, where you were sure to get good and quality products in cheaper price. And would have worked in reducing the monopoly of the trader's association. Opposing FDI is nothing but a political gimmick by the opposition. I just hope that this goes through soon.
The breakthrough in the standoff came at an all-party meeting this morning where the government made the offer to put on hold the Cabinet decision to allow 51 per cent FDI in multi-brand retail and the Opposition agreed to it.
My take: FDI in retails would definitely have been a boon for the consumers, where you were sure to get good and quality products in cheaper price. And would have worked in reducing the monopoly of the trader's association. Opposing FDI is nothing but a political gimmick by the opposition. I just hope that this goes through soon.
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