India's BJP says will ban foreign supermarkets if elected; fresh blow to global chains

By Nandita Bose MUMBAI (Reuters) - The political party expected to lead India's next government confirmed on Monday it would ban foreign supermarkets from the $500 billion retail sector, a move that would deal a fresh setback to global chains such as Wal-Mart and Carrefour. The Bharatiya Janata Party (BJP), which has in recent years opposed investment by foreign firms into multi-brand retail, made the announcement in its election manifesto, which it unveiled in New Delhi earlier. If elected, the BJP said it would welcome foreign direct investment in all sectors that create local jobs, except for supermarkets. It is not clear, however, whether the BJP, which is forecast to win the most parliamentary seats in a five-week election that started on Monday, would follow through on the ban.



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