Indian Retail Opened Up For FDI: The Day After Diesel Price Hike!

The economist in Dr. Manmohan Singh, Prime Minister of India, has finally decided to take control of the country’s economy and growth, and end the nearly one-year-long policy plus reforms paralysis politically enforced by the opportunist opposition parties as well as the allies of the ruling coalition. Undaunted by the countywide rallies and protests against the diesel price hike on September 13, 2012 Dr. Singh captained his government along to push through the reforms further the very next day. Goodness for the country’s economy and future growth prospects in a global perspective must be kept beyond politics and political fortunes of the government; he seemed to have decided upon. In a landmark decision on the evening of September 14, 2012 the Government of India approved the much opposed 51% FDI (Foreign Direct Investment) in the over $500 billion Indian multi-brand retail market and 49% FDI in the misery-ridden Indian aviation sector. The FDI cap for the Broadcasting sec