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.

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