FDI: Not a saleable policy

In politics, atmospherics matter as much as content. That, perhaps, explains the manner in which the Centre's proposals on foreign direct investment (FDI) in multi-brand retail have been structured. Not only are they impractical, they ignore the federal nature of the legal framework for such operations. The Centre wants foreign retailers to direct 50 per cent of their total investments into ‘backend infrastructure', procure 60 per cent of agricultural produce from ‘low-income, resource-poor' farmers, and source 30 per cent generally through small and medium enterprises (SMEs). 

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