SSB Group Discussion and Individual lecturette- Practice set 02
Foreign Direct Investment should it be allowed in the retails sector in India? First of all let us know what the meaning of FDI is. Foreign Direct Investment – it means, letting a foreign country to invest in India in a business in which they carry out- purchase – manufacture and sell the goods internationally. Recently the cabinet took a decision to allow 51 % FDI in Multi-brand retail. They have identified about 53 cities with population not less than 100 lakh to be made use by these companies. India is the 4 th largest economy in the world in terms of Personal Purchasing Power. India is a preferred destination for FDI, during 2000-10, the country attracted $178 billion as FDI Today, we witnessed that a turnover of 1 billion Rupees was possible with in just 10 hours of commencement of sale over the internet by Flipkart .com. Points For the subject:- 1. This will bring modern technology to the country. 2. ...