Why no one bought it

Politics, at times, is about selling a refrigerator to an eskimo. That is not the case when it comes to opening up multi-brand retail to up to 51% foreign direct investment (FDI). It is a policy that isn’t a gimmick and can, with the right sub-policies in place, change not only India’s consumer landscape but also that of Indian agriculture and its protagonist, the farmer. But a good policy also needs to be sold, and in a democracy that means obtaining consensus. The Union Cabinet’s decision taken last week on FDI in retail was bereft of any consensus.

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