FDI to increase competition in organised retail: Citi

NEW DELHI: Notwithstanding strong opposition to foreign direct investment in multi-brand retail, a Citi report today said the entry of global retailers like Walmart will increase competition in India's organised retail sector. 

In addition, USD 15-20 billion in FDI could flow into the country over the next 10 years as a result of the government's decision to allow foreign direct investment (FDI) in multi-brand retail, the report by the global financial services major said. 

"The move... will help improve competition in the organised sector through the entry of several players such as Carrefour and Tesco, which have been waiting on the sidelines, and enhance expertise in logistics, supply chain management from multinationals," Citi said in its 'India Microscope' report. 

The report also said the move would help enhance the share of organised players in the overall retail sector, who currently account for about 6 per cent of India's USD 470 billion retail market. 

Parliament has been paralysed for the last three days as the entire Opposition, joined by UPA allies TrinamoolCongress and DMK, is protesting against the Cabinet decision of November 24 to allow 51 per cent foreign direct investment in multi-brand retail. 

Multi-brand retail in India is largely in the unorganised sector dominated by neighbourhood kirana stores and there is a concern among political parties and traders that these stores would be impacted by the entry of global retailers. 

Citi's report also asserted that increasing the FDI cap in insurance has the potential to attract about USD 9-10 billion in FDI in the country over the next decade.

Pawar incident not civil, justified: Omar

Bishnah (Jammu), Nov 24 (PTI) Asking media to desist from glorifying such action, Jammu and Kashmir Chief Minister Omar Abdullah today condemned attack on Union minister Sharad Pawar and said such acts are not in any way civil or justified. "The movement you (media) justify it as a movement of civil society - you are doing a great disregard to the civil society as this is in no respect civil behaviour," he told reporters after addressing a public gathering at Deoli village in Check Hasla, about 45 km from here. "I know some of you love to do it. Corruption has no justification for any sought of civil behaviour. Sharad Pawar is a very senior leader of the country. He is a Cabinet minister and former chief minister. "This sought of conduct is not any way civil or justified whatever be the perceived feelings. This is unjustified behaviour and I hope media should not glorify this sought of action," he said. Reply to another question about the deliberation on AFSPA at a cabinet meeting today, he said, "I am not going into specifics. I am not going to divulge what the options we have except it is ongoing discussion that we are having. We will see what appropriate steps can be taken." On another question as to who has final veto on AFSPA revocation - the governor or he - Omar said, "If I answer your question, no likely you will be making breaking news that Omar Abdullah is in fight with Raj Bhavan. I have the best of the relationship with Governor N N Vohra and with Raj Bhavan. "I do not want to say or suggest anything that will result in any sought of any confusion in this relationship. Whatever is the position, I understand perhaps the Advocate General has given an opinion. I have not had the opportunity to examine that and it has not been examined by the legal experts - when I do, I will come up with an answer." In reply to a question about the statement of Arundhati Roy on Kashmir, he said that he was not in a business of reacting to the people like Roy. "As for as I know, India is a big democracy - within restrictions, I want right to free speech is exercise principally. Beyond that, I do not want to argue," he said.

Outrage as man slaps Pawar

outrage across the country and protests on Mahara-shtra’s streets following an attack on NCP supremo and Union agriculture minister Sharad Pawar outside an auditorium at the NDMC Centre on Parliament Street here on Thursday.

The youth, identified as Harvinder Singh and believed to be associated with the Team Anna outfit India Against Corruption, slapped Mr Pawar in protest against price rise and corruption as the minister was leaving the auditorium. Mr Pawar quickly regained his composure and got into his car. The attacker also brandished a “small knife” before being overpowered by securitymen. The assailant, a local transporter, had also attacked former communications minister Sukh Ram outside Rohini court last week.
Prime Minister Manmohan Singh, Maharashtra CM Prithviraj Chavan, Leader of the Opposition Sushma Swaraj, CPI(M) leader Sitaram Yechury and the top Congress leadership condemned the attack. IAC officials denied any link with the assailant.

Never expected Anna to react like this to Pawar incident: Digvijaya

Anti-corruption activist Anna Hazare has received a lot of flak for his initial reaction on hearing the news of Union minister Sharad Pawar being slapped by a man in Delhi.

Senior Congress leader Digvijaya Singh on Friday criticised Hazare for his reaction.


Singh tweeted, "Never

expected Anna to react the way he did to Sharad Pawar incident. It certainly was not a Gandhian Reaction."


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On Thursday, many leaders including Jammu and Kashmir CM Omar Abdullah and Congress leader Manish Tewari had criticised Hazare.

Just days after calling for the public flogging of alcoholics, the social activist created another controversy with his reaction to the assault of Sharad Pawar: "Ek hi mara kya (was he slapped only once)?"

Immediately after making this remark at a press conference, the 72-year-old retreated into his house.

He emerged seconds later and made a complete U-turn: "He (the attacker) may be very angry. This is not good. Anger is not good. Our Constitution does not tell us to be violent with anyone."

As criticism poured in, Hazare clarified: "I was asking them (reporters) if he was only slapped or if anything else happened to him."

"However, if it is perceived that I have said something wrong, I am ready to apologise," he added.

Hazare and Pawar, both from Maharashtra, have been at odds for almost two decades now. In the last assembly election, Hazare had in a public statement accused the union agriculture minister of corruption, land grabbing and use of muscle power.

The last time they tangled was over the Lavasa project, when Hazare accused Pawar of protecting the hill city project near Pune because of a personal interest in it.