It had been coming for a while. And when the Union government announced that India would now be open to 100 per cent foreign direct investment (FDI) in single-brand retail through the automatic route from the forthcoming fiscal year 2018–19, it was a prelude to the Prime Minister’s interactions with chief executives of top multinational companies at the World Economic Forum (WEF) meeting in Davos, Switzerland. Among other things, Narendra Modi was expressly there to woo investors. FDI: At a...