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This announcement will boost the sales of textiles, consumer items such as diapers, baby wipes, etc. in 1.1 billion populated India and will pave the way for the explosion of consumer goods usage.

15 Sep 2012

By Ramkumar Seshadri
LUBBOCK, USA(Commodity Online): Textile and consumer goods such as diapers, baby wipes and feminine care products to get a fillip due to todays’ announcement by India on Foreign Direct Investments (FDI).

According to Press Trust of India, Union Cabinet headed by Prime Minister Dr. Manmohan Singh approved majority stake investment (51%) by foreign entities in multi-brand retail sector.

This announcement will boost the sales of textiles, consumer items such as diapers, baby wipes, etc. in 1.1 billion populated India and will pave the way for the explosion of consumer goods usage.

Although, the central government allowed major stake (51%) FDI in multi-brand retail sector, power rests with individual state governments to allow the set-up of retail outlets in their respective states.

Wal-Mart has already set-up via joint-venture Bharti Walmart Private Limited in India. According to Walmart, its first Best Price Wholesale cash-and-carry outlet in India opened in 2009. As of this August, there are 17 such outlets in India.


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COMMENTS (1)
Ajit vadakayil
26 Sep 2012
Hi, Every patriotic Indian who can understand simple English must read this. Punch into google search- MODERN ECONOMICS, AN EMPIRICAL VULGAR PSEUDO SCIENCE- CAPT AJIT VADAKAYIL Adam Smith the supreme god of economists , was a THIEF who lifted French economist and banker, Richard Cantillon’s work. Adam Smith , the holy cow, was a CRIMINAL AND MURDERER who killed 120 lakhs ( 10.2 million ) Bengalis in 1769. See some gruesome pictures of the sunk holocaust. Adam Smith , the crypto agent, was an employed by British East India Company as the one man think tank-- BEIC financiers are now back to India for FDI in multibrand retail. History always repeats itself—this is why we learn history. On the Dec 20, 2004 letter, the FAM’s foreign trade committee chairman Chandrakant T. Shanghvi said that Manmohan Singh had categorically told a delegation of the traders’ body that “we should not permit FDI in retail trade… India does not require the kind of reforms which would, rather than creating employment, destroy employment”. So now it is the Italian Queen Beee who wants it, right ? DORKS and angrez ka aulads in Indian internet disguise —keep away. Capt ajit vadakayil ..
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