NEW INDIAN GOVERNMENT GUIDELINES RESTRICT FOREIGN INVESTMENT IN ORGANISED RETAIL
April 1st, 2010
BY RAGHAVENDRA VERMA
UNEASE and uncertainty has been provoked amongst international food retailers by new restrictive guidelines issued by the Indian government, limiting foreign investment in the organised retail sector.
The move comes when the Indian retail sector generally was expecting a gradual liberalisation of rules on striking deals with foreign partners. Instead, the Congress-led government has taken an unexpected step backwards towards a closed economy policy by almost scrapping Indian retailers' rights to create joint ventures with foreign ...
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