Last updated : January 12, 2018 12:08 pm
Though it receives a mixed bag of opinions, 100% FDI rule in Single Brand retail satisfies most of the stakeholders relating to the retail landscape here in India.
The Confederation of All India Traders (CAIT) strongly opposed the move as they opined that it will facilitate easy entry of MNCs in retail trade of India and will also violate poll promise of BJP. In a statement shared with media, CAIT mentioned, “It’s a serious matter for small businesses. It is a pity that instead of formulating policies for the welfare, upgradation and modernisation of existing retail trade, the Govt is more interested in paving way for the MNCs to control and dominate the retail trade of India.”
On the other hand, international and Indian brands welcomed the move as they could foresee more flourishing business in India, after the step is taken. Media reported that brands like Apple and its Chinese counterpart brands are likely to do better business in
Reflecting the industry’s collectively positive opinion, Kumar Rajagopalan, CEO of Retailers Association of India (RAI), mentioned, “We have always been supportive of relaxation of norms for FDI in retail. It will pave a smooth way for India’s retail sector to grow further. It is known that global companies take time to develop good suppliers as partners and hence the relaxed time frame for sourcing is conducive without compromising India's need to be a good sourcing hub for global brands. In the long run, today's reform would help boost employment, bring in wide product choices for consumers and help grow not just the economy, but the nation as a whole.”