After two years of deliberation the Indian cabinet announced at the end of November that it would allow foreign direct investment (FDI) into its domestic retail sector. Specifically, this proposal would have allowed 51 percent foreign investment into multibrand retailing from outlets such as Wal-Mart and Tesco, and 100 percent FDI ownership by single-brand stores such as Apple and Nike. This was a landmark decision which had the potential to bring critical foreign capital into a sector that is largely dominated by small and unorganized mom-and-pop-Kirana-stores which directly and indirectly employ around 40 million people. The announcement was good news for many international retailers including Wal-Mart, Target, Carrefour, Tesco and several Japanese retailers who had eagerly been waiting to gain greater access to the rapidly rising Indian middle class market. However, the jubilant mood and celebration of both foreign and domestic investors and millions of producers and consumers was short lived. Howls of protest within India has just led the Indian government, mere days after its initial decision, to suspend the market opening in retail.