Sunday, February 2, 2014

Indian state bars foreign supermarkets in latest blow for chains

Customers walk outside a Walmart store in the Porter Ranch section of Los Angeles By Tony Munroe MUMBAI (Reuters) - The Indian state of Rajasthan has barred foreign direct investment in supermarkets, an ominous sign for global retailers who covet India's vast but fragmented retail sector if the country's main opposition Bharatiya Janata Party (BJP) comes to power nationally in upcoming elections. The BJP is considered to be more investor-friendly than India's ruling Congress party but opposes foreign direct investment in supermarkets because of its impact on small shopkeepers.








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