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not a good move.
these company always hunt for cheap stuff and sell them at lower price than 'kirana store' to get profit. In other word they will sell it at wholesale price because they can afford it.
I don't want to see stores full of 'Made in China' crap.
more over this will encourage other shopkeepers to sell 'Made in crap' stuff which is not good for our manufacture industry.
Foreign investors who earlier wanted to foray only in "Multi-brand" retail and not the watered down avatar of wholesale cash and carry will now be keen to enter into India.
Hike in the limit for FDI in single brand join venture, will enable foreign investors to increase their stake in the existing ventures where the Indian join venture partners are unable to further capatilize the ventures keeping their 49% stake in perspective.
Global single brand players who did not want to enter into India earlier becoz of 51% cap prescribed for single brand retail should be interested in investing into India now.
Foreign investments are already existing in large and medium Indian retailers to address their funding needs.
Although India is second largest producer of fruits and vegetables, India lacks an integrated and storage facilities. Inefficient supply chain infrastructure is evident from the fact that 35%-45% of the food grains in India are wasted.
>100% permitted in FDI in cold-chain storage has failed to attract desired foreign investment, in the absence of FDI in front -end retail, leading to losses to farmers in terms of higher prices, wastage of quality and quantity of produce.
The opening up of FDI in retail with the condition of 50% mandatory investments in back-end infrastructure should help in overcoming the above supply chain inefficiencies. Back-end like processing, manufacturing, distribution, design improvement quality control, packaging, logistics, market produce infrastructure etc.
Expenditure on land cost and rentals, if any, will not be counted for purposes to back end infrastructure.