Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
28 November, 2014 23:27 IST
Parliament approves FDI in multi-brand retail
Source: IRIS | 07 Dec, 2012, 03.19PM
Comments  |  Post Comment

Congress-led United Progressive Alliance (UPA) government won vote on FDI in multi-brand retail in the Rajya Sabha on Friday. The Opposition's motion seeking withdrawal of the decision on FDI was beaten after the BSP and SP members voted in favour of the government.

A total of 123 MPs voted in favour of the government while 109 MPs voted against it. One MP was absent.

Reacting to the vote,  Anshuman Magazine, chairman and MD, CBRE South Asia said, 'This is a positive move by the Government which will be a game-changer for the real estate industry in India. It will encourage international retailers to look at India as a destination to set up their operations resulting in creating opportunities in supply chain management, warehousing and better quality products at competitive prices.

Eventually it is expected that most of these foreign retailers will source products locally to remain competitive which will benefit the manufacturing sector. The expansion of the retail industry will create significant employment. However all of this is not going to happen overnight.

The results on the ground will depend on the global economic situation, pace of increase in purchasing power in India besides time taken by retailers to set up their operations.'


Related Articles
Ind-Ra rates Prism Cement's Rs 1,000 mn NCDs at 'A-' - 28-Nov-2014 17:36
IDBI Bank opens Zonal Office in Chandigarh - 28-Nov-2014 16:22
CRISIL reaffirms `AA+/Stable/A1+` on Bharti Airtel - 28-Nov-2014 15:02
State Bank of India shares climb on partnership with Nissan - 28-Nov-2014 14:51
Nissan, SBI enter strategic tie-up to offer vehicle finance options in India - 28-Nov-2014 14:48
ICICI Bank allots 227,650 shares under ESOS - 28-Nov-2014 14:27
Coal India gives nod for MCL project worth Rs 113.63 bn - 28-Nov-2014 14:15
GEPL Capital maintains 'Buy' on VIP Industries; target Rs 123 - 28-Nov-2014 11:34
Ind-Ra affirms Coromandel International at 'AA+' - 28-Nov-2014 10:12
'Accumulate' Tata Steel; target of Rs 530: Prabhudas Lilladher - 27-Nov-2014 18:22
Essar Steel commissions 6 mtpa pellet complex in Odisha - 27-Nov-2014 18:08
more...
* Q - Quote , N - News , C - Chart , F - Financials
Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type    into this box
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer