Thursday, November 24, 2011

India opens retail markets to Wal Mart, Carre Four

In a landmark decision on November 24, India open its $450 billion retail market to global supermarket giants,approving its biggest reform in years that may boost sorely needed investment in Asia's third-largest economy. 
The cabinet allowed global chains like Wal-Mart, Carrefour and 7-Eleven to bring up to 51 per cent foreign equity to open multi-brand retail stores despite opposition by some allies in the ruling coalition. It also allowed 100-per cent equity in single brand retailing.
The government feels the move will cut intermediaries between farmers and retailers and will help them get more money for their produce. It also hopes the move will help bring prices at retail level down and calm inflation.
How long will we have to wait for the results to show?

Will Dam999 reignite another war of words?

Dam999 being released today is already causing a lot of angst in Tamil Nadu. The movie, directed by Sohan Roy is about the Mullaiperiyar issue, which incidentally has been a bone of contention between two south Indian states.
An enraged group of Marumalarchi Dravida Munnetra Kazhagam cadres – who insist the movie is partial to Kerala because the director is a Malayalee -- barged into Prasad Film Laboratories in Saligramam and damaged property.
Police arrested 23 of them, including the party’s state general secretary ‘Mallai’ Sathya. Sohan Roy meanwhile has issued a statement that the movie is based on the true story of the Banqiao dam collapse, which killed 2.5 lakh people in China in 1975 and has stated that Dam999 has nothing to do with any dam in India or in Tamil Nadu.
He says the Mullaperiyar issue had given him the idea to make a film on dam disasters and also added that he planned to hold a special preview for politicians.
The parties that have been riled up by the movie are the Pattali Makkal Katchi, MDMK and Puthiya Tamizhagam, who have all demanded that the state government stop the release of the film saying it would trigger law and order problems in Tamil Nadu and Kerala.