Full approval for Ikea says India’s open to business

If the year began with the Supreme Court cancelling 122 telecom licences issued by A Raja and throwing the industry into a tizzy—after all many of these had been flipped over at large premiums—it may just end with some good cheer. After summoning the courage to hike FDI limits in single-brand retail, the government even managed to get Parliament to ratify the entry of global multi-brand retailers—all this while not having a majority in the Rajya Sabha. Yet, when it came to clearing Ikea’s R10,500 crore proposal to establish shops in India, the government cleared only a partial list of products that the Swedish retailer could sell.

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