FE@CAMPUS MASTERMIND: Response by Mahavir Accha to question for Jan 7-13
- LIVE Brussels: One dead, several injured after two explosions at Belgium's Zaventem airport
- Meeting with PM Modi 'very positive', says PDP leader Mehbooba Mufti
- University of Hyderabad students attack VC Appa Rao's house, smash furniture
- JNUSU president Kanhaiya Kumar meets Rahul Gandhi
- Rift with RBI Governor Raghuram Rajan? Here's what Jaitley has to say
Response to question for Jan 7-13: FDI IN MULTI-BRAND RETAIL HAS FINALLY BEEN PASSED. WHAT WOULD BE THE IMMEDIATE BENEFITS, AND FOR WHOM?
Retailing in India is one of the pillars of its economy and accounts for 14 to 15 percent of its GDP. The Indian retail market is estimated to be US$ 450 billion and one of the top five retail markets in the world by economic value. India is one of the fastest growing retail market in the world, with 1.2 billion people.
Most Indian shopping takes place in open markets or millions of small, independent grocery and retail shops. Shoppers typically stand outside the retail shop, ask for what they want, and can not pick or examine a product from the shelf.
India's retailing industry is essentially owner manned small shops. In 2010, larger format convenience stores and supermarkets accounted for about 4 percent of the industry, and these were present only in large urban centers. India's retail and logistics industry employs about 40 million Indians (3.3% of Indian population).
On 14 September 2012, the government of India announced the opening of FDI in multi-brand retail, subject to approvals by individual states. This decision has been welcomed by economists and the markets, however has caused protests and an upheaval in India's central government's political coalition structure. On 20 September 2012, the Government of India formally notified the FDI reforms for single and multi-brand retail, thereby making it effective under Indian law. Benifited
Real Estate: Especially mall developers. Retailers like Wal-Mart, Tesco operates in large area of 50,000 – 60,000 sqft. They generally pay to the builders certain percentage of the total revenue. Real Estate companies into retailing space to be benefited.
Unitech DLF Sobha Developers.FMCG Companies :- HUL, Dabur etc & Aviation sector also benefited.
- In Bangladesh’s diminishing democratic space, a prominent editor is at the receiving end
- Supreme Court has the opportunity to enforce the true Islamic law on divorce
- Budget 2016: An ‘A’ for ambition
- Raja-Mandala: Bridge to China
- A tale of two speeches
- The new enemy property ordinance is more draconian than the one in 2010