Saturday, September 15, 2012

Some real fireworks from today ..

The PM Manmohan Singh has announced 51% FDI in multi-brand retail, 49 % in aviation and media yesterday. Politically it was a very dumb move as the ruling party will definitely have to call for mid term elections soon. But despite the opportunism and perpetual protests of the BJP and Left, the people of the country can look forward  to some real development in the country. The stage is set for growth of the economy, translating to app. 3% raise in GDP this year ..

The $ 460 billion retail industry in India, (about 120% of Walmart's annual revenues) opening, gives great promise for the world retail majors like Walmart, Carrefour and TESCO .. Whether these global majors will be ready to play the game on India's terms, not emlpoying any predatory practices etc is the only question to be answered. The clause asking 30% of the FDI, be put into developing back end support infrastructure like warehouses, cold chains, transportation infrastructure, excluding real estate costs and rentals, will see heavy investments in infrastructure development in the country.

Mamata and BJP will fire heavy crackers today while the Left will burn matchsticks to protest ..

Lot of exciting action is promised in the coming days on the roads and in the next Parliament session by the Opposition led by Mamata's TMC ..


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