Latest


Karnataka agrees to implement FDI in multi-brand retail

  •   Wed, Jun 26 2013 03:31:57 PM

Karnataka agrees to implement FDI in multi-brand retail

New Delhi, Jun 26 (PTI): Karnataka has joined 11 other states and union territories that have agreed to allow foreign direct investment (FDI) in multi-brand retail.

"Karnataka has also favoured the policy," Department of Industrial Policy and Promotion (DIPP) Secretary Saurabh Chandra said.

There was a change in Karnataka's stand following the the change of government there after the recent assembly polls. The previous BJP-led government was against the implementation of FDI in multi-brand retail in the state.

Earlier this month, Himachal Pradesh also agreed to allow 51 per cent FDI in multi-brand retail.

Maharashtra, Andhra Pradesh, Haryana, Rajasthan and Manipur are among other states that have decided to implement the decision.

However, the government has so far not received any proposal for investment in multi-brand retail.
  

Top Stories

Rohan Mall set to transform Mangaluru’s retail landscape by 2025

  •   3 hours ago   

Comment on this article

  • Ralf, Kudroli

    Fri, Jun 28 2013

    And what exactly did your 3 CM's do? leave progress, for the past 5 years people were confused who the CM of Karnataka was, print one name in text books and by the time the books come out, another is appointed as CM. Scams were like peanuts for last 5 years, they even looted the very ground we stood upon. There is a change in Karnataka, people's mandate. Appreciate it. Bashing just for the sake of bashing is useless. And I am pretty sure, you shop only in shopping malls. Thats called hypocrisy.

    DisAgree Agree [2] Reply Report Abuse

  • nagesh nayak, bangalore

    Thu, Jun 27 2013

    BLUNDER AND END OF PROGRESS IN KARNATAKA.

    HISTORY REPEATS.

    BRITISH RULED FOR 182 YEARS AND NOW ONWARDS ITALY RULE .

    SIDDU OPENED UP SLAVERY IN KARNATAKA.

    DisAgree [7] Agree [3] Reply Report Abuse

  • Muna Kudroli, Manglore - Mumbai

    Thu, Jun 27 2013

    Instead of making PSUs sectors stronger and efficent. Govt is running behing FDI scums. It will benefit for them not to us. Once economy is in FDI control for us we have to face high prices.There have been no takers for the big ticket FDI in retail. It clearly shows that MNCs and big players are not interested in investing in fresh infrastructure and growth. They are only keen in takeovers and mergers. India should never allow such mergers and takeovers. If MNCs want the Indian markets they should be made to build it on their own No retail major would like to meet the restricitve guidelines for FDI in multi-brand retail unless they are able to get pan-India access in order to make their investments provide a more than decent ROI. Just a example 5 yrs before FLATS rates were in LACKS now we have to pay in CRORES who will suffer ??????? Ex. Today 55 INR or guess 100 INR for a UDUPI DOSA after 2 Years FDI DOSA will be for 250 INR and KFC SUBWAY , MCDONALD will be charged 25 INR.....Good KARNATAKA SHINES and our children will do sales man jobs in furture.Karnataka has gone to the congis & on SALE and some parrots have started singing!!!!!!!!!!!!!!!!!!!!!

    DisAgree [13] Agree [5] Reply Report Abuse

  • Ralf, Kudroli

    Thu, Jun 27 2013

    First Half of your comment is senselessly interesting, and second half is political bashing with an attempt to show us that you are a well known economist and last part inludes birds and dosas. Plus you are sitting in Mumbai and commenting about how it will affect karnataka, while Maharastra also has FDI in Retail. Whats your point exactly that is relevant to this artical

    DisAgree [3] Agree [5] Reply Report Abuse

  • vnayak, mangalore/switzerland

    Wed, Jun 26 2013

    Very good move. Good for farmers since the logistics and infrastructure will help them to sell all their goods rather than the 40% that gets rotten today. It is also good for the consumers since the prices will be stable. The only bad news is for the middlemen who do not add value to the food chain but hoard the goods to extract higher prices while paying lower prices to the farmers.

    Anybody who supports these corrupt middlemen who milk the farmers and the consumers will be unhappy. The Kirana stores have nothing to worry about since the large stores will not be present on every street in every town.

    DisAgree [4] Agree [9] Reply Report Abuse

  • Avinash, Kasaragod/Bangalore

    Wed, Jun 26 2013

    Coz of this METRO Cash n Carry small retailers in Blore are in trouble.

    Now when this Walmart etc.. comes to Blore it will complete the destruction of those poor fellows.

    Mr.CM will always talks about doing good for poor people. Is this the good thing what he is doing ??

    DisAgree [6] Agree [4] Reply Report Abuse

  • Raymond, Mangalore

    Wed, Jun 26 2013

    Finally Karnataka Govt sold Indian Retail Market to Foreigners.

    Nothing but just think of reducing dollar rates..

    DisAgree [19] Agree [18] Reply Report Abuse

  • PRD mang, mangalore

    Wed, Jun 26 2013

    very nice to hear this.. now ktaka will improve.. BJP shattered and plundered ktaka totally. worst govt worst admin!.. it was after 2OO8 most of the rape cases, attacks on religious places, fights,communalism, formation of anti social groups like BD etc etc started! BJP is the most corrupt and communal govt!

    DisAgree [20] Agree [31] Reply Report Abuse

  • My View , managlore

    Thu, Jun 27 2013

    you do not know abcd about the FDI in retail and talking about achievement of K'tak Govt.Only China will be benefited from this, low priced low quality thing will be sold in these retails.

    DisAgree [2] Agree [8] Reply Report Abuse

  • A. S. Mathew, U.S.A.

    Wed, Jun 26 2013

    FDI in manufacturing or infrastructure development is a wise deicision, but the FDI in retail is a very serious blunder.
    These FDI in retail will dump cheap foreign-made goods and the Indian wealth would be going out of the country-Re value would be plummeting-more people are going to be out of work. Those people who are dreaming about great prosperity and high employment etc are totally misguided. How many millions of jobs have been exported to other countries by corporations like Walmart in the U.S.? The Gulf oil boom during the last four decades brought a lot of wealth to India, especially to south India but those days are going to be changed gradually. The new technology to make oil from "shale" is giving serious headache to the oil producting countries. The U.S. has over 1.5-2.6 trillion barrels
    of oil reserve in the shale rock. Now, the daily production has gone over 1 million barrels/day, and it will be reaching four times within five years and the U.S., the U.S.
    import of oil has declined much. But, the U.S. is going to be bulk exporter of oil. The OPEC can't play the tricky price game any more to control the world oil price, they lost that leverage once for all.

    DisAgree [9] Agree [33] Reply Report Abuse

  • Ashok, Mangalore

    Wed, Jun 26 2013

    Good move only Marvadis & Gujju's will suffer because of their bad practice in business.

    DisAgree [17] Agree [20] Reply Report Abuse

  • flavian dsouza, chik/banaglore

    Wed, Jun 26 2013

    From years kiranawallas and middlemen swindled the money and farmers were always at the mercy of them. Now cash and carry business farmers are reluctant to give the produce to middlemen. More organised labour i see so many young men and women employed in each of the these shops,technicians,cleaners etc. WALMART is one of the biggest employers in the US especially for all those who have no good qualification. Not kiranwalla will employ!!

    DisAgree [5] Agree [16] Reply Report Abuse

  • narendra Prabhu, sullia/Bangalore

    Wed, Jun 26 2013

    East India company is coming.

    DisAgree [16] Agree [23] Reply Report Abuse

  • simple, Bangalore

    Wed, Jun 26 2013

    narendra Prabhu, Sullia

    I think it is the BJP that is reinstating East India Company in Sullia. They both have the same ways - fleecing\pocketing of India's wealth.

    DisAgree [2] Agree [2] Reply Report Abuse

  • V.Pereira, Udupi

    Wed, Jun 26 2013

    1. Increase in employment.
    2. More foreign cash inflows.
    3. Helps economic growth.
    4. Better infrastructural facility.
    5. Eliminates middlemen that result in lower price.

    DisAgree [28] Agree [50] Reply Report Abuse

  • Rakesh shetty, mangalore

    Wed, Jun 26 2013

    BAD DECISION FROM STATE GOVT.

    NO VALUES FOR POOR PEOPLES. I AM SURE MOST OF THEM WILL FACE PROBLEM BECAUSE OF THIS.

    DisAgree [103] Agree [37] Reply Report Abuse

  • V.Pereira, Udupi

    Wed, Jun 26 2013

    Good, Will help Employment and skill levels- FDI has also ensured a number of employment opportunities by aiding the setting up of industrial units in various corners of India.

    DisAgree [16] Agree [54] Reply Report Abuse

  • Rajesh, Mangalore

    Wed, Jun 26 2013

    I am a BJP supporter but what some times I feel BJP does so stupid act by opposing good things from happening. From computer to FDI, its a part of developing India.

    DisAgree [20] Agree [103] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Wed, Jun 26 2013

    Karnataka is a progressive state....

    DisAgree [31] Agree [93] Reply Report Abuse

  • Dinesh Poojary, Kundapura/Bengaluru

    Wed, Jun 26 2013

    Jossey Saldanha, Mumbai

    Yes, in rape, goondagiri and murders.

    DisAgree [93] Agree [37] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Wed, Jun 26 2013

    Yah par instant "doodh ka doodh, aur paani ka paani" ho jatha hai.....

    DisAgree [5] Agree [32] Reply Report Abuse

  • Anand, Padubidri/Mumbai

    Wed, Jun 26 2013

    Haanji,...paani hee paani ho raha hai....doodh bahut mehnga ho gaya.........

    DisAgree [2] Agree [3] Report Abuse

  • Ralf, Kudroli

    Fri, Jun 28 2013

    You speak as if last 5 years were an Golden Era of Karnataka.... Looted mother earth also like hooligans. Sudden power for the first time in 2008, it was like mangana kaiyalli maanikya.... It was utter chaos, three CMs in 5 years, it was like they were riding one cycle and fighting " Naan Bidthini Eega, Naan Bidthini"

    DisAgree Agree [1] Reply Report Abuse

  • Sachidanand Shetty, Mundkur/Dubai

    Wed, Jun 26 2013

    There was much hue and cry about FDI. MM Singh once opposed the FDI during NDA rule later proposed for the same. But surprisingly not even single application we received for FDI till date. I think nobody is interested in investment in India if the present scenario goes on. We may expect some FDI through Shopping Mall owners only but they will never contribute to our economy rather than siphoning profits from India. Only few corrupt Political Leaders will bring back their illegal money through some Foreign Company in the name of FDI and it is right time to bring it back since Dollar rate has gone skyrocketing

    DisAgree [8] Agree [54] Reply Report Abuse

  • Bollu, Mangalore

    Wed, Jun 26 2013

    Great News..
    More of big retail enterprises entering Karnataka..
    Earlier Unilever - a Anglo-Dutch Company and Procter & Gamble - American Company act like wolves in world market...giving no chance for other's. Now its turn of Wal-Mart/Carefour and others. Due to lever group..everything that of there's..in the market under different brand name. In India..it's Lifebuoy/Rexona for poor people Lux for Middle Class..Dove for Higher Class. Lipton/Brut/Ponds/Vaseline/Brylcream/Comfort/Dalda/Prophecy/OMO/Surf/Wheel/Walls/Knorr/Kissan/ Peposdent/Close-up and many more products all belonged to one group itself. How other local manufactuers can able to compete with giant foreign retailers..!! It's what Government deal with America on Nuclear issues..during MMS visit. Again poor is going to poorer in coming days..and rich..becomes richer. Government never think anything about poor people. Are not interested to build..at least toilets everywhere..it's somewhat shame on our part..!! Good slogan of Congress.. Garibi Hatao.. all poor people left in 'ditch'..!!

    DisAgree [36] Agree [33] Reply Report Abuse

  • Prashanth Poojary, karkala

    Wed, Jun 26 2013

    Need of the hour,supposed to be implimented long back,no doubt a big credit to ruling congress Govt

    DisAgree [25] Agree [61] Reply Report Abuse

  • Dinesh Poojary, Kundapura/Bengaluru

    Wed, Jun 26 2013

    The indirect of death of farmers and Kiraniwalas...

    DisAgree [93] Agree [33] Reply Report Abuse

  • Jude, Mangalore Dubai

    Wed, Jun 26 2013

    I feel sorry for your ignorance. How come the farmers will die if they get a better deal for their produce. No wonder the BJP and its supporter base ( Traders and middle men) are crying hoarse, because it is they who will get slaughtered, but again nobody will cry over their demise as it is they who have been sucking the blood of the poor farmers and the consumers all these years.

    This is a fantastic and progressive decision by the new Karnataka government. Bonanza for both the farmers and consumers and a well deserved death for the middle men (dalals).

    In Dubai and rest of the Middle East we have some of the largest hypermarket chains and new ones are opening each month and surprisingly more and more corner shops are mushrooming all over at the same time.

    DisAgree [16] Agree [51] Reply Report Abuse

  • Rajesh Shetty, Udupi

    Wed, Jun 26 2013

    Good move by govt. to look forward instead of going backward like BJP.

    DisAgree [29] Agree [94] Reply Report Abuse


Leave a Comment

Title: Karnataka agrees to implement FDI in multi-brand retail



You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.

You might also like