100% FDI in retail will harm retailers, shopkeepers: CPI-M

Government has given its nod to 100 per cent FDI in single-brand retail

The Narendra Modi-led government has allowed 100 percent FDI under automatic route for single brand retail trading and construction development.

The government also clarified that real-estate broking services aren't real estate business and are, therefore, eligible for 100% FDI under the automatic route.

Foreign airlines were so far barred from owning any share in Air India, even though they were allowed to have up to 49 percent stake in other Indian airline companies.

Singapore Airlines on Wednesday said it will keep options open on Air India stake after the Government allowed foreign carriers to own up to 49 per cent in the national carrier.

In a statement issued after the Cabinet decisions, the party said, "The politburo of the CPI (M) also strongly opposes the decision to allow foreign airlines to invest up to 49 per cent in Air India". Now the government has decided "to permit single brand retail trading entity to set off its incremental sourcing of goods from India for global operations during initial 5 years, beginning April 1 of the year of the opening of first store against the mandatory sourcing requirement of 30% of purchases", said an official release.

Shilpa Shinde's Emotional Breakdown At The Press Conference
The five contestants also met the press in an unexpected encounter arranged by Bigg Boss without giving them any advance notice. Getting insecure inside the house is not a new thing and every one felt insecure being eliminated and not to be victor .

On Air India, it said the government was now moving towards handing over Air India to a foreign airline.

It has now been chose to do away with this provision, thereby allowing FIIs/FPIs to invest in Power Exchanges through primary market as well, the government said.

The Cabinet, chaired by Prime Minister Narendra Modi, today gave its approval to a number of amendments in the FDI policy, including those pertaining to Air India.

It is nearly a given that the government will have to absorb much of Air India's massive debt to entice enough interest from any private sector company.

So far 49 per cent FDI was permitted under automatic route in power exchanges registered under the Central Electricity Regulatory Commission (Power Market) Regulations, 2010.

Senate Bill to Restore Net Neutrality Achieves Important Milestone
Given that Republicans have nearly unanimously supported the FCC's new rules, the prospects for the CRA are dim. The FCC's vote to repeal net neutrality left many shocked, unsure of where to go from here .

Making changes in the sector relating to power exchanges, the government removed the restrictions on investment by foreign institute investors and portfolio investors to invest in power exchanges through primary market as well.

Commerce and Industry Minister Suresh Prabhu said the decisions would help "remove roadblocks" for receiving foreign investments and expressed the hope that relaxation of norms would facilitate faster development of the economy. In the pharma sector, the Cabinet chose to amend the definition of medical devices in the FDI policy.

Cases under the government approval route, also requiring security clearance with respect to countries of concern, will continue to be processed by concerned administrative department or ministry.

Expressing similar views, Wildcraft co–founder Siddharth Sood said: "The consumer in the country will be direct beneficiary of this move as they will have access to the brands hitherto unavailable in the country as it will be much easier for the worldwide brands to set up shop in India".

NVIDIA to launch 65-inch, 4K, 120Hz gaming displays with Android TV
NVIDIA has also introduced Freestyle filters which will start processing according to the game you are playing. Having G-Sync and NVIDIA Shield at one place is kind of most advanced thing Nvidia could offer at this point.

Related News:



Most liked

"Big Little Lies" Absolutely Dominated At The Golden Globes Because Duh
But Kidman also shares two other children - Connor, 22, and Isabella, 25 - whom she adopted with her ex-husband Tom Cruise . In addition to Urban and her co-stars, Kidman also thanked her mother, Janelle Kidman.

TCL Debuts Alto Roku Smart Sound Bar
With the new Roku Entertainment Assistant built-in, it will allow for seamless voice control of Roku devices in the home. TCL's rise in popularity has been impressive, but not without reason.

2017-18 flu season expected to be one of worst in years
The number of people testing positive for influenza also is significantly higher than in past years across the state and nation. From Colquitt and Tift Regional Medical Center to Phoebe Putney Memorial, hospitals are starting to see cases of the flu.

Major League Baseball trade rumors: Astros acquire Gerrit Cole from Pirates
Despite Morosi's report, Jeff Passan of Yahoo Sports reported that "multiple sources are cautioning" that a deal wasn't done yet. The Yankees were also rumored to be in on Cole, but ultimately came second in the sweepstakes for the 27-year-old.

All signs point to Matt Patricia becoming next Giants head coach
The Giants will hold their sixth and final interview with former Broncos running backs coach Eric Studesville on Wednesday. If Patricia does go to the Giants , watch out for Texans assistant and former Patriots linebacker Mike Vrabel in Detroit.

Rain and snow in the forecast
SUNDAY NIGHT: Mostly cloudy skies and frigid temperatures continue, with a low temperature of 10 degrees. Day: Cloudy with a 70 percent chance for rain with around one-quarter inch possible.

Kia Niro EV shoots for 200-plus-mile range
Kia says the current powertrain found here utilizes new production technology which will be applied to other near-future vehicles. That range will include the Niro EV due to go on sale later this year, which Kia has previewed with a Concept machine at CES .

Arsenal and Liverpool get a major transfer boost for Ligue 1 star
According to the Sun , Liverpool are set to swoop for the £90million rated ($121.9million) star by readying an offer for him this month.

Natalie Portman: Our cause raises $14m in 2 weeks
Kelly Clarkson and Keith Urban taking the stage to present Best Score was a bright moment during the Globes. Only one woman has ever won the award for best director in the Golden Globes' 75-year history.

Gov. Inslee issues statement on death of Pierce Co. sheriff's deputy
McCartney spent six years with the Hoquiam Police Department before transferring to Pierce County in 2014 and resided near Yelm. Sunday while responding to a 911 call for an intruder reported in a house on 200th Street East in the Frederickson area.

Democratic activist pledges $30 million to mobilize voters
The House impeaches, or brings formal charges against an official, in what would be the first step in removing Trump from office. "I am not going to run for office in 2018, that's not where I can make the biggest difference", Mr.

Samsung's New AI Technology Converts Any Video To 8K
The advancements include easier sharing and connectivity, simpler controls for the television, and syncing with other devices. It can transform into any size, and delivers incredible brightness, color gamut, color volume and black levels.

Missing journalist's medicine caused her to become 'confused and disoriented'
Roland's roommate told KPRC that Roland texted her about a suspicious man she saw in Walgreens who was following her. Friends said Roland was wearing an orange Remington hat and a camouflage fleece jacket, before she disappeared.

California Commissioner Condemns Session's Move Against Legal Pot
Department of Justice over a shift toward tougher marijuana enforcement, calling the move a "direct violation of states' rights". The U.S. attorney for Colorado took office in August 2016 after former President Barack Obama's appointee stepped down.

Secret SpaceX 'Zuma' launch scheduled for Sunday
After launch, SpaceX returned the tall portion of the Falcon 9 rocket to an upright landing at Cape Canaveral. It wasn't until earlier in January that the company was able to confirm a hard time or date for the launch.