23
Wednesday
January 2019
7:16 AM IST
News Headlines
102 one-horned rhinos killed since 2008, 209 poachers arrested: RTI reply        Heavy rains, hail lash parts of Delhi; city traffic thrown out of gear        EVM hacking charges sets off political wrangling, EC files police complaint        NRIs are India's brand ambassadors, symbolise country's capabilities: PM        More domestic, international services from Kannur International Airport        Kohli will break all records created by Tendulkar: Zaheer Abbas        Man gets 7 years rigorous imprisonment for robbery        Encounter breaks out at Shopian in J-K        France fines Google nearly $57 million        Full dress rehearsal for Republic Day Parade on Wednesday, traffic restrictions to be in place        Jaitey calls Congress remarks on EVM hacking "lie and garbage"        China''s economy slumps to 28 year low to 6.6 per cent in 2018        Venezuela military group calls in video for not recognizing Maduro        First Indian-American Senator Kamala Harris announces her 2020 US presidential bid        Ross Taylor praises Kohli''s batting prowess ahead of limited-overs series        Halep sent home but Djokovic, Williams headed to the Australian Open quarter-finals        Boo - The World's Cutest dog dies        PM condoles demise of Lingayat seer        CJI recuses from hearing plea challenging Rao's appointment as interim CBI chief        Ankita wins first singles title of 2019 season in Singapore        
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Business News
Govt should consider 100% FDI in multi-brand retail trade: CII report
 
New Delhi, Dec 11 (PTI) The government should consider permitting 100 per cent foreign direct investment (FDI) in multi-brand retail trade and further improve ease of doing business for the sector to promote growth in the segment, industry body CII said in a report Tuesday.

These suggestions are part of a national retail policy released by CII. It was jointly prepared by the industry chamber and AT Kearney.

The report said that to overcome the barriers and enable a smooth growth and harmonious coexistence of traditional and modern retail, the government needs to adopt a single cohesive national retail policy, which adequately addresses all the concern areas.

The policy has suggested several steps, including strengthening labour laws by regularising policies around part-time labour to ensure greater participation of women in the workforce; and review of food safety policies to update archaic laws governing stocking limits, weights and measures, labeling, and taxes on expired food items.

It also asked for decreasing real estate constraints for retail expansion by creating dedicated retail special economic zones as well as simplify regulations and real estate approvals for kiranas to expand their stores.

The government should encourage modernisation of traditional retail by subsidising these retailers to adopt technology, the report said.

Improved access to capital will help retail business especially the traditional retailers, it added.

"The government should also consider 100 per cent FDI in multi-brand retail trade," the report said.

It said that with a simplified, cohesive policy and a focused effort on modernising traditional retail sector, government can create multiple wins such as higher growth of the sector, larger traditional retail stores under regulatory compliance, and improved back-end efficiency with a lower overall cost to serve.

Although, the current foreign direct investment policy permits overseas players to hold 51 per cent stake in an Indian retail company, the BJP in its election manifesto had opposed overseas investment in the retail segment.

So far, only one foreign player, Tesco, had received approval for opening stores under the multi-brand retail policy. The previous UPA government had cleared the proposal.


China''s economy slumps to 28 year low to 6.6 per cent in 2018
Minister says UK faces 'political tsunami' if Brexit halted
Mumbai TDS office issued prosecution notices in 50 ''big'' cases in past one month: CBDT
Honda Cars India announces increase in car prices, effective from Feb 1
IOC to raise USD 3 bn more in overseas loan
Jet Airways shares sink over 8% amid uncertainty over open offer
Huawei founder denies spying for China in rare interview
Rupee slips further, settles below 71-level against USD
Sebi fines 10 entities for fraudulent trading in Mindvision Capital shares
Govt sets up common facility centres for gems and jewellery sector
Rupee rises 14 paise against US dollar in early trade
Export demand to drive future growth of manufacturing companies
MCA summons directors, officers of Usha Martin
Reliance Communications Says 'Fully Committed' To Settle Dues With Ericsson
Jet Airways In Talks With SBI To Raise Rs. 1,500 Crore: Report
Petrol, Diesel Prices To Rise In Karnataka As State Hikes Fuel Taxes
RBI Scales Down Printing Of 2,000 Rupee Note: Report
Banks likely to recover bad loans worth Rs 70,000 crore by March-end: Arun Jaitley
BoB finalises share swap ratio for merger of Vijaya Bank, Dena Bank
Fuel prices to come down further: Dharmendra Pradhan
KERALA NEWS
More domestic, international services from Kannur International Airport
 Thiruvananthapuram: More domestic, international services to start from Kannur International Airport  
Mineral sand mining: Talks fail, agitaion to continue
Kerala HC disqualifies Koduvally MLA
Kanakadurga attacked by mother-in-law
INTERNATIONAL NEWS
France fines Google nearly $57 million
 Washington: The French regulators fined Google with nearly $57 million for violating Europe's new da
Venezuela military group calls in video for not recognizing Maduro
First Indian-American Senator Kamala Harris announces her 2020 US presidential bid
Boo - The World's Cutest dog dies
NATIONAL NEWS
102 one-horned rhinos killed since 2008, 209 poachers arrested: RTI reply
 Noida (UP), Jan 22 (PTI) As many as 102 one-horned rhinoceros have been poached and killed in the co
Heavy rains, hail lash parts of Delhi; city traffic thrown out of gear
Man gets 7 years rigorous imprisonment for robbery
Encounter breaks out at Shopian in J-K
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