Indian Parliament passes bill on retail FDI

India's ruling coalition, United Progressive Alliance (UPA) wins vote over FDI in retail in the Rajya Sabha, upper house of Indian Parliament on Friday. The government defeated a motion against the measure by 123 to 109 after the one of the major opposition party Samajwadi Party ( SP) walked out ahead of the vote. The lower house of Parliament, or Lok Sabha also passes FDI in retail bill with 253 vs 218 on Wednesday evening after a chaotic debate in the past two days at the Parliament. UPA's win in both house means that foreign companies can hold at most 51 percent shares of multi-brand retail. Earlier in the day animated debate on FDI in Rajya Sabha saw clashes between government and the opposition, which accused Commerce Minister Anand Sharma of misleading the House and demanded an apology. In mid September this year, the Indian government proposed many reform bills, including FDI in retail, aviation and insurance, which was to be voted in the winter session of Parliament this month.