Many a slip

Similarly, not long after the UPA risked its government on FDI in multibrand retail, its industry ministry has come up with rules that have prevented even one global retailer from putting in an application. One such rule says that once a foreign retailer develops an SME as a supplier 30 per cent of sourcing has to be from SMEs and that SME grows in size, that sourcing will no longer be seen to be fulfilling the norm. In the defence sector, where FDI caps have been raised, this is to be allowed on a case-by-case basis. Conditional clearances, past experience has shown, simply don't work.

Please read our terms of use before posting comments
TERMS OF USE: The views expressed in comments published on indianexpress.com are those of the comment writer's alone. They do not represent the views or opinions of The Indian Express Group or its staff. Comments are automatically posted live; however, indianexpress.com reserves the right to take it down at any time. We also reserve the right not to publish comments that are abusive, obscene, inflammatory, derogatory or defamatory.