(Views expressed in this article are the personal opinion of the author.)
The long-awaited and much touted reform on FDI has ultimately seen the light of the day; perhaps more to prove that the Government is no longer paralytic. This reflected in the form of notification of Review of the policy on Foreign Direct Investment- allowing FDI in Multi-Brand Retail which was, in fact,modification and operationalize of September 14 Cabinet decision to relax the sourcing norms for foreign retailers investing beyond 51 per cent single-handedly retail. The Notification of revised Cabinet decision came on 20September, 2012 when the country saw one of the biggest bands by all the Opposition parties, as also those supporting the Government from outside. The reforms in general and FDI in particular has been subject of animated, long,often verbose and universally broad swipes by one group on the other. The ruling UPA II that has not been able to issue the Notification of new FDIpolicy earlier because it failed to take on board and persuade the parties,supporting it from within, ultimately broke free after the walk-out by second largest party in the Government and made the Policy announcement on FDI in Multi-brand retail.
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