25 April, 2014 12:40 IST
News
Parliament approves FDI in multi-brand retail
Source: IRIS (07-DEC-12)
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.'


News
Ambuja Cements standalone quarterly profit climbs 6.58% - 25-Apr-2014 08:53
Sun Pharma Advance Research names Anil Raghavan as CEO - 25-Apr-2014 08:46
Fitch rates Oil India's USD 1 bn notes at 'BBB-' - 25-Apr-2014 08:43
Biocon fourth quarter profit plunges 54.5% - 25-Apr-2014 08:32
Tata Metaliks loss narrows in Jan-Mar quarter - 24-Apr-2014 16:32
Granules India standalone quarterly net up 13.26% - 24-Apr-2014 16:29
ACC standalone quarterly net declines 8.9% - 24-Apr-2014 15:42
Oil Country Tubular standalone quarterly earnings soar 65.48 times - 24-Apr-2014 15:36
Bharti Infratel standalone quarterly net surges 40.64% - 24-Apr-2014 15:30
Infotech Enterprises standalone quarterly earnings rise 28.81% - 24-Apr-2014 15:22
UltraTech Cement standalone quarterly net climbs 15.40% - 23-Apr-2014 18:38
more...
* Q - Quote , N - News , C - Chart , F - Financials
Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type   5rrrqw into this box
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Forums  |   E-mail  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer