45700652 fdi in india s retail sector more bad than good

8/12/2019 45700652 Fdi in India s Retail Sector More Bad Than Good

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Vignana Jo!"i In#!i!$!% o&

Manag%'%n!

DECARATIN

I hereby declare that this project report titled STUDY ON “FDI IN

RETAILSECTOR IN INDIA MORE THAN GOOD ” submitted by me is a bonafide work

undertaken by me and it is not submitted to any other Institution or uniersity for the award of

any de!ree"diploma certificate or published any time before#

N$%& O' T(& STUD&NT SI)N$TU*& O' T(& STUD&NT

DIBYA RANJAN BEHERA

7



ACKNOWLEDGEMENT

I aail this opportunity to e+press my deep sense of !ratitude to all the people who hae helped

me to carry out and complete this project in partial fulfillment of my ,)D% de!ree curriculum#

I am deeply indebted to %r# -$%$. )(OS( *$Y/ Director/ 0I)N$N$ 1YOT(I

INSTITUT& O' %$N$)&%&NT/ 2achupally/ (yderabad for the aluable support and !ae

me an opportunity to do my project work#

I want to e+press my sincere thanks to $# *$%&S( for his constant moral support and aluable

!uidance in successful completion of the project work#

I wish to e+press my hearty thanks to all faculty members of 0I)N$N$ 1YOT(I INSTITUT&

O' %$N$)&%&NT/ for the help they proided to carry out this project#

'inally/ I would like to thank all my friends and staff members without whom this would not

hae been successfully completed#

Date3 DI2Y$ *$N1$N 2&(&*$

,lace3 (yderabad

7



ABSTRACT

There is !rowin! reco!nition of the si!nificant effect the actiities of the priate sector hae4on

employees/ customers/ communities/ the enironment/ competitors/ business partners/ inestors/

shareholders/ !oernments and others# 'DI is become more ital for Indian economy# 'DI means

forei!n direct inestment# $fter !lobali5ation forei!n companies inested in our country#

In India there are two type of retail sector i#e# or!ani5ed and unor!ani5ed# $s India is a

deelopin! country so the Indian market was dominated by unor!ani5ed retail sector# In India

there was 678 of unor!ani5ed retail sector# In India the standard of liin! of the people is ery

low and there was the problem of unemployment# So that the people were tryin! to be

independent#'DI at last enter into the Indian market in retail sector# 'irst they tar!eted the

metropolitan city to establish their business# Due to 'DI in retail sector there is a rapid !rowth in)D,# The unemployment problem of our country is on control#'DI make a reolution on Indian

retail sector# In the analysis part it is findin! that 'DI in retail sector will help country for

economy !rowth and job problem#

7



Ta*l% o& Con!%n!#

1+ In!,o$.!ion 6

!! "b#e$ti%es 6

!&! 'imitations 6

!(! )ethodolo*y 6

2+ R%/i% o& i!%,a!$,%7

&!! +DI 7

&!&! Impa$t ", ,lobali-ation .

&!(! /urrent Retail 0$ene (

International Retail (

1nor*ani-ed Retail 0e$tor(

"r*ani-ed Retail 0e$tor 2

"r*ani-ed 3s 1nor*ani-ed 0e$tor 2

&!2! Indian Retail 4

&!4 Employment in Indian Retail 6

+ $gg%#!ion# &

3+ Con.l$#ion &&

4+ R%&%,%n.%# &&

7



1. Introdut!on

1.1 O"#$t!%$&

9# To see what is the impact of 'DI when enter into retail sector#

:# To know what is the impact on economy of our country#

;# To know what is the impact on the unor!ani5ed retail sector#

<# To hi!hli!ht the benefits due to 'DI in retail sector#

1.' L!(!t)t!on&

9# It will destroy the traditional market#

:# It will create the problem of 2,.#

1.* M$t+odo,o-

There is only the secondary data which is collected from the website# Some important data from

&conomic Times# I !et some data from the other like the website of =SO#

5



'. RE/IEW OF LITERAT0RE

'.1. FDI

These three letters stand for forei!n direct inestment# The simplest e+planation of 'DI

would be a direct inestment by a corporation in a commercial enture in another country# $ key

to separatin! this action from inolement in other entures in a forei!n country is that the

business enterprise operates completely outside the economy of the corporation>s home country#

It usually inoles participation in mana!ement/ joint?enture and transfer of technolo!y# There

are three types of 'DI3 inward forei!n direct inestment and outward forei!n direct inestment/

resultin! in a net 'DI inflow @positie or ne!atieA and Bstock of forei!n direct inestmentB#

Direct inestment e+cludes inestment throu!h purchase of share#'DI is distin!uished from

portfolio inestment that does not inole obtainin! a de!ree of control in a company# 'DI in

retail tradin! is not encoura!ed in any form# 'orei!n Direct Inestment in *etail was taken in the

year :CC# Tradin! is permitted under automatic route with 'DI up to E98 proided it is

primarily limited to e+port actiities/ and the undertakin! is an e+port house"tradin! house"supertradin! house"star tradin! house# (oweer/ under the 'I,2 route 9CC8 'DI is permitted in case

of tradin! companies for the followin! actiities3

• e+portsF

• bulk imports with e+?port"e+?bonded warehouse salesF

• cash and carry wholesale tradin!F

• other import of !oods or serices proided at least GE8 of it is for procurement and sale

of !oods and serices amon! the companies of the same !roup and not for third party useor onward transfer"distribution"sales#

$ few forei!n retail names appearin! in the market like %arks H Spencer/ 2enetton/

.ifestyle are in the nature of franchisee#

6



FDI IN INDIA’S RETAIL SECTOR

$s India is a deelopin! country so India allows the forei!n retail company to enter into India in:CC# The E< 'DI approals hae been !ranted by the !oernment and the country has receieda cash inflow to the tune of about *s 6C9#< crore#

The scenario at present is3 9CC8 'DI is allowed in wholesale cash and carry trade E98 'DI in Sin!le 2rand *etail No 'DI in %ulti 2rand *etail

They are comin! with the 'DI in India>s retail sector because of some reason which are mention

below3

9# India is a deelopin! country

:# Indian market is a ery lar!e market

;# *etail is the top most !rowin! market in India#

<# The enironmental factor and the political factor is not so bad in India#

E# The ta+ rate is low#

*etailin! is the interface between the producer and the indiidual consumer buyin! for personal

consumption# This e+cludes direct interface between the manufacturers# $ retailer is one whostocks the producer>s !oods and is inoled in the act of sellin! it to the indiidual consumer/ at

a mar!in of profit# $s such/ retailin! is the last link that connects the indiidual consumer with

the manufacturin! and distribution chain#

The retail industry in India is of late often bein! hailed as one of the sunrise sectors in the

economy# India is the Jsecond most attractie retail destination> !lobally from amon! thirty

emer!ent markets# Kith a contribution of 9<8 to the national )D, and employin!G8 of the

total workforce in the country/ the retail industry is definitely one of the pillars of the Indianeconomy#

So the 'DI in retail sector in India# $s per the report prepared by 'I==I and I=I=I ,ropertySerices in 'eb :CCE/ 'DI can be a powerful catalyst to spur competition in the retail industry# It

7



can brin! about3 Supply =hain Improement Inestment in Technolo!y/ %anpower and Skilldeelopment Tourism Deelopment Up!radation in $!riculture &fficient Small and

%edium Scale Industries )rowth in market si5e )reater ,roductiity 2enefits to!oernment throu!h !reater )D,/ ta+ income and employment !eneration#

T+$ Ind!)n S$n)r!o

Trade or retailin! is the sin!le lar!est component of the serices sector in terms of contribution

to )D,# Its massie share of 9<8 is double the fi!ure of the ne+t lar!est broad economic actiity

in the sector

Table 93 =omponents of Serice Sector In India=omponent Share 8 in )D, @:CC:?C;A )rowth durin! @:CC:?C;A

=onstruction E#; G#;

(otel H*estaurant 9#9 <

Trade 9< <#E

*ailway 9#9 E#G

Other Transport <#;

Stora!e C#9 ?G#7

=ommunication ;#E ::

2ankin! and Insurance #6 99#

*eal &state/ 2usiness".e!al Serices #9 E#6

Defense E#6 E#;

Other =ommunity HSocial Serices G#7 #:

Total E#9 G#:

6



O"&$r%)t!on

9# India is a deelopin! country with hi!h population#

:# So there is less opportunity for employment#

;# %ost people are dependent on a!riculture and small retail store#

2! 'rom the aboe pie?chart it is clear that trade is contributin! hi!hest to )D,

other than any sector

#

'.'. I()t o2 G,o"),!3)t!on

$fter !lobali5ation the retail sector was !rowin! oer the recent period# $s home markets hae

become crowded and with opportunities for new emer!in! market/ modern retailers from

deeloped countries hae been turnin! to new markets# On an aera!e each of the top :EC

retailers in the world has operated on an aera!e in E#6 countries in :CCE?C @1uly?1uneA a!ainst

fie countries in :CCC?C9 @Deloitte? Stores *eport/ :CCGA# 'orei!n business accounted for 9<#<8

of retail sales of these companies in :CCE?C up from 9:#8 in :CCC?C9# The retail sales !rowth

of companies which hae entured into forei!n markets has been faster than those that hae

confined themseles to home markets# 'or the !lobali5ation India is the best tar!et for the

forei!n company to inest because India has the lar!e market with less ta+ to be paid to the

!oernment# The worldLs lar!est retailer Kal?%art has solicited support from the US !oernment

for enterin! the multi?brand doller Indian retail market# The US?based Kal?%art Stores one of

the world>s top reenue !rosser with oer M<CC billion of the total annual sales and present in 9E

countries# Its presence in India is limited to business?to?business wholesale market and back?end

supply chain mana!ement business throu!h a joint enture with Sunil %ittal?led 2harti !roup

and it has been tryin! for many years now to enter Indian retail market/ as India does not allow

forei!n direct inestment in multi?brand retail business/ in which Kal?%art speciali5es# The

company had si!ned the 10 with 2harti *etail in au!ust :CCG# Importantly/ there is a complete

ban on forei!n inestment in multi?brand/ front?end retail# This has resulted in keepin! all the

!iant corporate backed retailers of the world like Kalmart @US$A/ =arrefour @'ranceA/ Tesco

@U-A/ and %etro @)ermanyA/ who are ery keen to foray into India>s retail sector/ away

from enterin! into the country# $ll of these retailers/ therefore/ to make their presence felt in the

country/ hae either tied?up or tryin! to tie?up with local corporates/ to offer their serices for

7



back?end operations like sourcin!/ lo!istics/ inentory mana!ement/ amon! others/ for front?end/

multi?brand retail operations of such corporates#

)rowth of *etail Outlets in India @CCCA

Outlets 966 966G 9667 9666 :CCC :CC9

'ood *etail :G6 :6<;#6 ;9:;#< ;;CC#: ;<7C ;7:#6

Non?'ood

retailers

EGG;# C<C ;;:#: #; GCEE#E G<7:#9

Total

retailers

7E<:# 767;# 6<EE# 66#E 9CE;<#< 999E

7



In :C:C the total production is :GC<#6@“ CCC “A in such a way which will we !et

from normal euation

O"&$r%)t!on

7

Time Series $nalysis

Year Y @Total *etailers inBCCCBA

PQ:t?@9667R9666A +y +:

Trend 0alue inB CCCB yc

QaRb+

966 7E<:# ?; ?:E:G#7 6 7E<<#E

966G 767;# ?: ?9G6G#: < 76E<#<9667 6<EE# ?9 ?6<EE# 9 6;<#;

9666 66#E 9 66#E 9 9C97<#9

:CCC 9CE;<#< : :9C7#7 < 9CE6<#

:CC9 999E ; ;;<6E 6 99CC<#E6

Total YQE7<G#G +QC+yQ99<G6#G +:Q:7

In this case/ since n/ the number of pair is een i#e / we shift the ori!in to the time which is thearithmetic mean of the two middle times i#e/ 9667 H 9666

+Q:t?@9667R9666A

:t?;66G

The normal euation for estimatin! a H b

YQaRb+

yQnaRb+

+yQa+Rb+

:

E7<G#GQbC 99<G6#GQ6GG<#:CRb:7 aQE7<G#G" bQ99<G6#G":7

aQ6GG<#: bQ<C6#66



9# Time series analysis is a statistical tool which is used in business for forecastin!#

:# It is the tool which is help mana!ers to take proper decision#

;# 'DI is playin! a !reat roll for the deelopment of our country#

<# In India retailer sector is ery ital because it is proided job opportunity and !iin!

more profit#

E# 'or that reason 'DI is interested in retail sector#

# $fter !lobali5ation 'DI is comin! ery uickly to our country#

G# The aboe table shows that there is an increment in the retail sector in both food and non?

food retail sector#

7# 'rom that the non food retailers are increasin! by <#E8 per year#

6# On that data I used time series to know what is the position of both food and non?food

retailers in :C:C#

9C# The Trend alue in :C:C will be :G<C<96C#

99# 2y the use of Time series analysis a mana!er can know whether it will be !ood to inest

or not#

9:# # 'rom the aboe Trend line !raph it is ery clear that the retail sector positie slope#

(!There are two type of retail sectors i#e Unor!ani5ed and Or!ani5ed#

9<# Due to 'DI the Or!ani5ed sector is increasin!#

'.*. Curr$nt R$t)!, S$n$

Int$rn)t!on), R$t)!,

)lobal retail sales are estimated to cross M9: trillion in :CCG#The !rowth in the world economy/

!lobal retail sales !rew stron!ly in the last fie years @:CC9?CA at an aera!e nominal !rowth of

about 78 per annum in M terms# )rocery dominates retail sales with a share of appro+imately

<C8 in the world#

0nor-)n!3$d R$t)!, &$tor

6



It means the retail sector which is not re!ister under !oernment# These retail sectors are not

payin! the sale ta+/ at etc# In India the unor!ani5ed retail sector hae a !reat impact oer the

last fie decade# These type of retail sector sere many people in our country like kirana shops/

owner manned !eneral stores/ paan"beedi shops/ conenience stores/ hand cart and paement

endors/ etc# Unor!ani5ed retailin! is by far the prealent form of trade in India constitutin!

678 of total trade/ while or!ani5ed trade accounts only for the remainin! :8#

Or-)n!3$d R$t)!, &$tor

These type of retail sectors are re!ister under the !oernment# They are payin! the sale ta+/ at

etc to the !oernment# 'DI is the e+ample of or!ani5ed retail sector# Some of the %N= in retail

sector like Trent .imited/ *,) Spencer>s/etc# 2harti?Kal?%art stores/ 'uture )roup/ %etro $)

etc#

Or-)n!3$d /& 0nor-)n!3$d R$t)!,

In the deeloped economies/ or!ani5ed retail is in the ran!e of GE?7C per cent of total retail/

whereas in deelopin! economies/ the unor!ani5ed sector dominates the retail business# %odern

retail formats/ such as hypermarkets/ superstores/ supermarkets/ discount and conenience stores

are widely present in the deeloped world/ whereas such forms of retail outlets hae only just

be!un to spread to deelopin! countries in recent years# In deelopin! countries/ the retailin!

business continues to be dominated by family?run nei!hborhood shops and open markets# $s a

result/ wholesalers and distributors who supply the products from industrial suppliers and

a!ricultural producers to the independent family?owned shops and open markets remain a critical

part of the supply chain in these countries#

7



S+)r$ o2 Or-)n!3$d R$t)!, !n S$,$t$d Countr!$&4 '556

=ountry Total *etail Sales

@USMbnA

Share of Or!ani5ed

*etail @8A

US$ :67; 7E

1apan 997:

U- <GE 7C

'rance <; 7C

=hina G7E :C

)ermany <:9 7C

India ;:: <

2ra5il :7< ;

*ussia :G ;;

-orea/ South :C9 9E

,akistan G 9

%alaysia ;< EE

Thailand 7 <C

,oland 9:C :C

'rom the aboe table is clear that in :CC there is ery less contribution by or!ani5ed retail

sector

compare to total retail sales of our country# Up to :CC the retail sectors were dominated by

unor!ani5ed retail sector# The contribution by or!ani5ed retail sector is ery less in deelopin!

countries#

6



'.7. Ind!)n R$t)!,

The !rowth of the retail trade in India is associated with the !rowth in the Indian economy#

)ross domestic product @)D,A !rew by an annual rate of #8 durin! 966<?CC but the !rowth

slackened to <#G8 per annum durin! the ne+t three years before the !rowth remarkably rose to

7#G8 per annum in the last four years# This meant a substantial rise in disposable income of

Indian households since the mid?966Cs# The data from the =entral Statistical Or!ani5ation @=SOA

indicate that the !rowth of real priate final consumption e+penditure/ which dipped from an

aera!e of E#G8 per annum durin! 966<?CC to <8 per annum durin! :CCC?C;/ shot up to #G8

per annum durin! :CC;?CG# *etail sales @in nominal termsA in the country also followed a similar

pattern3 a hi!h annual !rowth of 9;#8 durin! 966<?CC/ a low !rowth of <#78 durin! :CCC?C;

and a smart pick up in the last four years/ :CC;?CG at around 998

GDP4 Pr!%)t$ F!n), Con&u(t!on E8$nd!tur$ )nd R$t)!, S),$&

Gro9t+4 1::7;5< =Co(ound Annu), Gro9t+ R)t$>#

1::7;:

to

1:::;55

'555;51 to

'55';5*

'55*;57 to

'556;5<

*eal )D, # <#G 7#G

*eal priate final

consumption

&+penditure

E#G <#C #G

*etail sales 9;# <#7 9C#6

6



'rom the aboe table it is clear that after !lobali5ation )D, of our country was increasin! but in

:CC9?C; due to some e+ternal enironmental effect it had decreased but after that it is in !rowin!

sta!e# 'or the !rowth of )D, retail sale is playin! a !reat roll#

'.. E(,o($nt )nd Outut !n t+$ R$t)!, S$tor

*etail is a labour?intensie economic actiity# $ccordin! to the &conomic =ensus carried out by

the =SO in 9667/ the country had a total of 9C#6 million enterprises en!a!ed in retail trade/ of

which E#:; million were in the rural areas and E#< million in the urban areas# The total

employment in these enterprises in 9667 was 97#E< million of which G#77 million was in the

rural sector and 9C#E million in the urban sector# (oweer/ accordin! to NSSO>s &mploymentand Unemployment Surey for :CC<?CE/ employment in the retail trade has been ;E#C million/

diided between rural @9#C7 millionA and urban @97#67 millionA sectors#< This constituted about

7 8 of the workforce in the country @<E6 millionA# Kholesale trade/ on the other hand/

contributed to an employment of E#<7 million/ of which only 9#G9 million was in the rural sector

and ;#GG million in the urban sector# $ccordin! to =SO estimates/ total domestic trade/ both

wholesale and retail included/ constituted about 9E#9 per cent of India>s )D, in :CC?CG/ a

successie increase in share from 9; per cent of )D, in 9666?CC#

$ simple !lance at the employment numbers is enou!h to paint a !ood picture of the relatie

si5es of these two forms of trade in India or!ani5ed trade employs rou!hly E lakh people

whereas the unor!ani5ed retail trade employs nearly ;#6E crores#There are about 78 of the

workforce in the country are dependent on retail#

S+)r$ o2 r$t)!,!n- !n $(,o($nt )ro&& D!22$r$nt ountr!$&

Countr E(,o($nt

=@>

Ind!) 7

US$ 9

6



,oland 9:

2ra5il 9E

C+!n) G

S+)r$ o2 $r&on& 9or!n- !n Tr)d$ =$r $nt>

*ural Urban

%ale 'emale %ale 'emale

:CCG?C7 G# :#; :G#7 9:#7

:CC;?C< E# 9#G 97#7 7#

9666?:CCC #7 :#C :6#< 9#6

966;?6< E#E :#9 :9#6 9C#C

O"&$r%)t!on

9# 'rom the aboe table it is obsere that after 'DI enter in to the retail sector theemployment increases mostly in urban area#

:# The retail store by 'DI is much bi!!er than the Indian traditional store#

;# The prices in hotel and restaurants are much hi!her than the ordinary hotel and

restaurants#

<# They are inested in the urban area because it is so e+pensie#

E# So that employment increases in the urban area for both male and female#

# $fter :CC;?C< the employment had increased because it is the be!innin! time for %N=

to enter in to the retail sector in India#

G# There is no such improement in the job opportunity in rural areas because %N= are not

inestin! there#

6



For$!-n D!r$t In%$&t($nt =FDI> !n R$t)!,

Openin! up the retail sector to 'orei!n Direct Inestment @'DIA becomes a ery sensitie issue/

with ar!uments to support both sides of the debate# Indian !oernment allow 'DI in retail sector

beliee that in will help in !rowin! Indian economy with !reater inte!ration into the )lobal

economy# It is ultimate benefit for the consumer in both price reduction and product selection#

There is one important factor that a!ainst 'DI is that it can destroy traditional retail sector# $s

per present re!ulations/ no 'DI is permitted in retail trade in India# $llowin! <68 or :8 'DI#

S$tor), GDP4 E(,o($nt Gro9t+ R)t$& =@>

S$tor& S+)r$ @ !n

GDP ='557>

E(,o($nt Gro9t+ R)t$ dur!n-

1::7;'557

A-r!u,tur$ ::#9 C#E :#GC

Indu&tr :9#G 9#7 #E;

S$r%!$ E#: ::#G G#6C

O"&$r%)t!on

9# 'rom the aboe table we can know what the impact of 'DI is#

:# $fter !lobali5ation there is hu!e !rowth in Indian economy especially in the serice

sector#

;# $fter 'DI enter in the retail sector it also increase the job opportunity in our country#

<# 'rom 966<?C< the serice sector contributin! E#:8 to )D,#

E# $fter independence a!riculture was dominated Indian economy but after !lobali5ation

the !rowth of a!riculture had decreased#

# Now Indian economy is dominated by Serice sector because of 'DI#

6



E(,o($nt !n Or-)n!3$d W+o,$&),$ R$t)!, Tr)d$ S$tor4 1::';1::< =No&. !n L)+&>

Year &mployment

966: 9#<7

966; 9#9

966< 9#:

966E 9#:

966 9#<

*etailin! is not an actiity that can boost )D, by itself# It is only an intermediate alue?addin!

process# If there aren>t any !oods bein! manufactured/ then there will not be many !oods to be

retailedV This underlines the importance of manufacturin! in a deelopin! economy#

Tr$nd An),&!& o2 E(,o($nt !n Or-)n!3$d Tr)d$ &$tor41::';:< No&. !n ,)+&

Year Y employment in lakhs +Qt?966< +: +y

ycQaRb+

966: 9#<7 ?: < ?:#6 9#E:C

966; 9#9 ?9 9 ?9#9 9#EEG;

966< 9#: C C C 9#E6<

966E 9#: 9 9 9#: 9#;CG

966 9#< : < ;#:7 9#G<

Total yQG#6G +QC +:Q6 C#;;

6



+Qt?966<

The normal euation for estimatin! a H b

YQaRb+

yQnaRb+ +yQa+Rb+:

G#6GQEbC C#;;Q9#E6<CRb6

aQG#6G"E bQC#;;"6

aQ9#E6< bQC#C;G

O"&$r%)t!on

9# 'rom the aboe data I make the forecast for :C9E the employment that is :;<GC#

:# Or!ani5ed retail Trade is a !rowin! sector in India#

*. R$o(($nd)t!on&

9# The retail sector in India is seerely constrained " ,!(!t$d )%)!,)"!,!t o2 ")n 2!n)n$# The

)oernment and *2I need to eole suitable lendin! policies that will enable retailers in the

or!ani5ed and unor!ani5ed sectors to e+pand and improe efficiencies#

:# $ N)t!on), Co((!&&!on must be established to study the problems of the retail sector and toeole policies that will enable it to cope with 'DI as and when it comes#

;# The proposed National =ommission should eole a clear set of ond!t!on),!t!$& on -!)nt

2or$!-n r$t)!,$r& on the procurement of farm produce/ domestically manufactured merchandise

and imported !oods# These conditionalities must be aimed at encoura!in! the purchase of

!oods in the domestic market#

<# In order to address the dislocation issue/ it becomes imperatie to deelop and !(ro%$ t+$

()nu2)tur!n- &$tor in India# There has been a substantial fall in employment by the

manufacturin! sector#

E# The !oernment must actiely encoura!e settin! up of o;o$r)t!%$ &tor$& to procure and

stock their consumer !oods and commodities from small producers# The !oernment can also

7



facilitate the settin! up of warehousin! units and cold chains/ thereby lowerin! the capital costs

for the small retailers#

7. Con,u&!on

'rom the aboe study I can conclude that 'DI in retail sector in India is !ood than bad# $fter!lobali5ation India is the one of the major country with hi!h economy !rowth# =onsumer>siews are in positie direction towards the introduction of 'DI in %ultiband *etailin!#=onsumer think that still there is a need to improe in backend supply chain actiities which can be deeloped by allowin! 'DI in *etail sector# =onsumer>s demand is to make a re!ulatory bodywhich can put a cap upon forei!n inestors# India is populated country with the hu!e problem of

unemployment# Due to the 'DI this problem is under its control#

. R$2$r$n$&

9 www#!oo!le#co#in

: www#ficci#com

( www#timesof !nd!)#!nd!)times#com"###"!nd!)###FDI;!n;r$t)!,###"79:EG9#cms

2 The &conomics Times/ edition ;Cth may :C9C

4 Issue of Discussion paper on 'DI in %ulti?Brand *etail Tradin!

6 Impact of Or!ani5ed *etailin! on the Unor!ani5ed Sector %athew 1oseph/ %anisha )upta/

San!hamitra Sahu/ Nirupama Soundarajan/ %ay :CC7/ icrier report

G 'undamentals of Statistics S#= )upta#

7 Statistics for %ana!ement *ichard I# .ein/ Daid S#*ubin#

7

45700652 fdi in india s retail sector more bad than good

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