Monday, February 05, 2007

Congress President raises question on FDI

Breaking news here as reported by a news channel: Congress President, Sonia Gandhi has reportedly raised the question of foreign direct investment (FDI) in the retail industry and has apparently written to the Prime Minister Manmohan Singh about the issue, especially on US retail giant Wal-Mart being given permission to open stores in India.

If a spanner was thrown in the works, it would be a major setback to the retail industry and economy in general. More than financial terms, it would send a really bad image to the rest of the world, companies that are keen to enter the Indian market for its enormous potential and marketability. Let's hope nothing comes of it.

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