IMPACT OF FDI IN MULTI BRAND RETAIL MARKET IN INDIA
Keywords:
FDI, Multi Brand Retail Market, Government of India, Organized Sector, Unorganized Sector, MNCs.Abstract
Government of India has recently effected a landmark reform allowing up to 51 per cent in Foreign Direct Investment (FDI) in multi-brand retail market, paving way for the international multi-brand retailers interested to set up shops in India. Some sections of Indian retailers have welcomed the move saying that the policy is expected to give a push to the sectoral growth and the overall growth of the economy. However, a number of people cutting across various sections of the society have expressed apprehensions about the move fearing possible destruction of the local retail market in India, which is spread over in two major sectors , Organized Sector and Unorganized sector. .It is estimated that as on date 3-4% of retail trade in India is covered by Organized Sector and 96-97% is covered by Unorganized sector . The Government of India hopes to develop the retail sector to International Standards and provide ample employment opportunities through this move. However some sections of the society have expressed serious reservations about the success of the move
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