FDI Project


Suspension in the issue of allowing FDI in retail

NEW DELHI:Bearing an intense pressure for a long time from within and outside the government, on Wednesday the Center announced suspension of its decision to allow FDI in retail. Now Parliament gets back to business, after a logjam of nine days. During an all-party meeting this morning the government made the offer to put on hold the Cabinet decision to allow 51% FDI in multi-brand retail and the Opposition agreed to it. Soon after, Finance Minister Pranab Mukherjee made an announcement in the Lok Sabha that the government has decidedRead More

FDI issue in Parliament

NEW DELHI: On Day 9 of the winter session, the row over FDI in retail continued to disrupt Parliament proceedings with the opposition forcing adjournemnt of both Houses. With the government making no moves to bridge the gap with the opposition on the issue, the disruption was on expected lines. As soon as the Houses assembled for the day’s proceedings, the opposition members were on their feet demanding rollout of FDI decision. It is unlikely that the opposition will allow the Houses to function. With Monday and Tuesday being holidaysRead More

PM defended foreign direct investment (FDI)

NEW DELHI: On Tuesday Prime Minister Manmohan Singh vigorously defended his Cabinet’s approval for foreign direct investment (FDI) in the multi-brand retail sector, hours after the Opposition and Congress allies forced an adjournment of Parliament for the third day demanding that the decision be reversed. Manmohan Singh used the valedictory session here of the Youth Congress convention of elected office-bearers to not only pitch for the controversial FDI policy but also criticise the Opposition for not allowing the Parliament to function, and explain the steps taken by the government toRead More

Posco Will Not Move out of Orissa: Minister

The South Korean steelmaker Posco which is having trouble acquiring land in Orissa for its project will not move out of the state but be shifting to another plot of land, said Mines Minister BK Handique. In addition, Posco has also reaffirmed that it is committed to the Orissa project. Handique said that a Posco representative informed him that the company was shifting to another plot of land. The minister added that Posco would most ‘probably’ get the second plot of land in Orissa as well. It may be mentionedRead More