Anand Sharma says no comments on Left, Samajwadi Party opposition to FDI in retail
Commerce and Industry Minister Anand Sharma, who has been making efforts to forge a consensus on allowing FDI in multi-brand retail, today refused to comment on the Left and Samajwadi Party opposing the move.
Small traders and some political parties feel that opening of the global chains in the retail trade would harm the interest of the neighbourhood kirana stores.
Shares of the home-grown companies engaged in organised retail today tumbled as much as 8.3 per cent. The retail sector is governed by the Shop and Establishment Act of the respective state governments.
(Sources: Business Standard, Economic Times, the Hindu, Hindu Business Line)
Yamaha to venture into scooter segment
Even as Bajaj Auto tries to get its act together in the motorcycles segment that matters most, Japanese rival Yamaha is betting on a category that the Pune-based bike maker has abandoned production of: scooters. Better known for its stylish and power-packed bikes, India Yamaha Motor is looking to break even operations in a year or two and become a volumes player by riding on scooters.
The target for 2016 is to sell 2 million vehicles (scooters and bikes) - from 460,815 in 2011 -- and attain a 10% market share.
(Sources: Economic Times, Worldnews, IBNLive, Zeenews, Indiatimes)
Karnataka attracts less than 6% investment even two years after GIM
More than two years after it held a Global Investors Meet (GIM) where 389 projects worth $ 70 billion were cleared, the actual investment flow into Karnataka so far has been less than six per cent.
According to figures given by Large and Medium Industries Minister Murugesh R Nirani in the Legislative Assembly today on GIM 2010 held in June of that year, only 40 projects with an investment of $ 3.78 billion have so far been implemented.
(Sources: Economic Times, NDTV, Worldnews, IBNLive, Indiatimes)
Bharti Walmart to step up sourcing from women
Bharti Walmart, the joint venture (JV) between Bharti Enterprises and Walmart Stores Inc, is creating opportunities for women entrepreneurs in India to go global.
The two JV partners have undertaken an empowerment initiative for Indian women entrepreneurs, having set a target of impacting the lives of 25,000 women by 2016. They have also said they will substantially increase sourcing from women-owned businesses in India.
(Sources: Business Standard, i4u, IBNLive, Zeenews, NDTV)
Guar gum India's No 1 farm export
India’s much neglected and little-known guar gum is now its biggest agricultural item of export, upstaging the much better known items of basmati and non-basmati rice.
Of the total farm export of $ 14.73 billion in 2011-12, the share of guar gum was around 20 per cent, while that of basmati rice was 18.7 per cent and non-basmati rice 10.5 per cent.
Demand for guar gum, cultivated largely in Rajasthan, has been rising ever since Western nations started using it as a controlling agent in oil wells. It facilitates easy drilling.
(Sources: Business Standard, Economic Times, Hindu Business Line, Indiatimes)
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