Unfounded fears of FDI

Scarecrows have been at work ever since the central government announced its decision to allow foreign direct investment (FDI) up to 51 per cent in multi-brand retail and 100 per cent in single-brand retail. Facts belie fears. Single-brand retailers like Apple, Sony and Nike are already in business as the foreign companies were allowed to have majority stake in their Indian operations. In the Nineties when Kentucky Fried Chicken started operations in Bangalore, its outlet was vandalised by protesters who saw it as a cultural and business affront. KFC now operates all over India but it has not dented the demand for tandoori chicken.

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