Lacking retail confidence

Call it a ‘holdback' or a ‘rollback', the fact is that the Congress-led Government has buckled under pressure from the Opposition and its own allies to reverse the decision to open up the country's retail sector to foreign direct investment (FDI). By doing so, it has squandered an opportunity to not just signal an end to perceived policy paralysis, but also defend a bold reform measure in Parliament itself – even if it were through an adjournment motion entailing voting. The people of India, too, would have benefited from a debate, hearing the diverse views of their elected representatives.

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