A lot is being floated in the media - both good and bad - about the Indian Governments recent decision to allow up to 51% FDI in multi -brand retail.
But, what does it really mean for us Indians?
Multi-Brand Retail basic is a fancy name for big shopping plazas or malls, products from different manufacturers will be available for sale under one roof. Malls are the latest in fad in the economic scenario. Big Bazar, Magneto, City, Reliance Retail are some names that are already doing business in India. These the big players that chains of stores in several cities.
Every city also has some individual names that are available locally.
So, what is the fuss all these players are already doing business in India. Well - the government just opened the Indian shores for foreign players to come and set shop in India. Wal-Mart has already partnered with Bharti and has already started building its wholesale distribution outlets in several cities.
With the Cabinet having decided in favour of FDI in retail being, Wal-Mart and other similar retail outlets are likely to come-up across the country soon, if the government does not bow down to the pressure from the opposition parties and local small shop-owners.
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