Mr Marcus McGowan MSc PgDip BA (Hons)

This Business Education Learning Blog is aimed primarily at Higher Business Management students/teachers and ICT students/teachers.

The aim of this blog is to provide you with interesting articles, news, trivia as well as resources or links to materials which will help in your course of study.

I am a Teacher of Business Education and I have written for Education Scotland and BBC Bitesize.

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Saturday 26 November 2011

India in an uproar over supermarket deal

here has been uproar in India's parliament over the cabinet's decision to open up the retail market to global supermarket chains.

One key government ally, the Trinamool Congress, joined opposition parties in shouting slogans and unfurling banners.

The lower house had to be adjourned, and Trade Minister Anand Sharma instead held a press conference to spell out details of the policy.

He said the "India-specific" scheme would create tens of millions of jobs.

The cabinet's move allows 51% foreign direct ownership (FDI) of multi-brand retail stores, allowing groups like Tesco and Wal-Mart to open stores. Such operators currently can only sell wholesale in India and not directly to customers.

The policy is an executive decision and does not need parliament's approval.

Supporters of the move say it will increase competition and quality while reducing prices, which have been hit by close to double-digit inflation.

Opponents say the multi-nationals will squeeze out India's smaller and poorer traders and drive down prices paid to India's farmers.


Source: BBC Business News

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