C. J. Punnathara, The Hindu - BusinessLine December 14, 2011 FDI in retail will usher in changes in the shopping experience, believe experts. But, even without it, Kerala's textile retailers have been dressing up in style. A look at the action. The small like it big. So Kerala — going by its shopping complexes — is going for the maximum. Textile showrooms in God's Own Country have been outdoing one another in setting up extravagant outlets at a time when retailers everywhere else are downsizing. Take the recently opened five-storied five lakh sq ft Emmanuval Silks showroom in Kochi. Its…
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Sharleen D`Souza & Raghavendra Kamath, Business Standard Mumbai, December 13, 2011 After the UPA regime’s move to suspend its decision on foreign direct investment (FDI) in multi-brand retail, the industry is turning nervous about the prospects of single-brand retail as well. More so, since the government has yet to notify a Cabinet decision raising the foreign investment level to 100 per cent, from the current 51 per cent, for single-brand retail. It was on November 24 that a Cabinet meeting gave its nod to both moves. After that, the Centre, on December 8, formally put on hold its decision to…
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Sarah Jacob & Chaitali Chakravarty, The Economic Times Bangalore/New Delhi , December 12, 2011 Reliance Industries, a $50-billion-plus oil and gas giant, will enter the fast-food business with its own brand next year, opening yet another front to do business directly with India's growing young population after retail and 4G wireless services. Mukesh Ambani has roped in Rishi Negi, COO of multiplex operator Fame India, which is partly owned by his younger brother Anil Ambani, to develop a quick service restaurant (QSR) concept within 3-4 months, two senior Reliance executives said. Negi will spearhead Reliance's entry into a segment that…
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Pragya Singh Outlook, December 10, 2011 Single-brand retail OKed: as long as those UPA feet don’t grow cold. With plans for raising FDI in single-brand retail from 51% to 100% getting the green signal, albeit with possibly more riders, all is not lost for India Inc. Single-brand retailers span the entire gamut of Indian consumer demand, from the luxury segment that includes the likes of Louis Vuitton and Fendi, going right down to mid-range consumer brands and sports outfitters such as Nike, Reebok, Marks & Spencer, H&M, Office Depot and Hamleys. These firms can now either look to Indian shores…
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Vishal Krishna Businessworld, December 10, 2011 The government blinked. After battling the political opposition for about two weeks, the government backed down from introducing a policy allowing foreign direct investment (FDI) in multi-brand retail. The expectations of corporate India and the people at large were belied; you could hear the collective whoosh of disappointment. Then came some repressed anger, especially among captains of industry, at the political wrangling over what many of them see as a policy that is in the public interest. Others were cynical. “It was expected,” says Shrinivas Rao, CEO (Asia-Pacific) of Vestian Global, a real estate…
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