Fdi In Multi Brand Retail |
FDI was introducing in 1991under Foreign Exchange Management Act (FEMA), Driven By then Finance MinisterManmohan Singh. Foreign direct investment in multi-brand retail trading wasstarted in on 14th September 2012. Government has decided to allow51% FDI in multi-brand retail. The pre-conditions is that foreign investorsshould be the owner of the brand 50% ofthe investment is to be in backend infrastructure development. In Indian economy retailer is second largestafter farmers. In 2011, India’s retailindustry accounted for 22% of India’sGDP & Employed close to 9.4% of the labour force. Organized retail in Indiacurrently constitutes only 6% to 7% of overall retail trade in India. In 2016-2017,this share is projected to grow to 10% . There are a lot of middlemen. Some ofthem will be affected the income they used to get by exploiting the former’swill no longer be there. They will employ a lot of people honest work, regular,punctual, ethical, Au countries are different polities, currency, naturelanguage, government norms havedifferent effect on their economy. For example- Big Bazar, Shopper Stop,Chroma, Shopping mall & reliance fresh.