India approves FDI reforms for retail

Long-awaited reforms to foreign direct investment (FDI) were given the green light a week after MAPIC welcomed an expanded Indian Pavilion to Cannes.

India intends to open the country’s retail industry to foreign supermarkets, a cabinet minister confirmed in the week following MAPIC, although the much-delayed reform, designed to tap the potential of the market, was subsequently delayed in parliament yet again.

The government wants to allow 51% FDI in the multi-brand retail sector, Food Minister KV Thomas said.

Click here to read the full article in our MAPIC 2011 Review magazine, page 7.

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