By Prof. Sthanu R Nair
The Congress led UPA
government allowed 51% FDI in multi-brand retail in September 2012 overruling strong opposition from various quarters including some of the UPA allies. The move
invited serious criticism from several quarters with regard to its overall contribution
to the growth prospects of Indian economy and its adverse impact on traditional
retailers and small businesses. The government strongly defended its move by
arguing that its multibrand retail FDI policy features some unique provisions
which would safeguard the interests of the traditional retailers, small scale
industries and the nation as a whole. The three specific safeguard measures referred
vociferously by the government and the supporters of FDI in multibrand retail
at that time are (see Table):
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| Prof. Sthanu R Nair |
