After zero applicants, Cabinet eases rules for FDI in multi-brand retail
India, which threw open its supermarket sector to foreign retailers in September 2012, has not yet received a single application due to ambiguity around existing entry rules.<br /><br />
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Will applications come in now? Reuters[/caption]
New Delhi: The government eased investment rules for the retail sector on Thursday in a renewed attempt to attract foreign supermarket operators such as Wal-Mart Stores Incand Tesco, a cabinet minister who did not wish to be named told reporters.
No details of the measures were immediately available.
India, which threw open its supermarket sector to foreign retailers in September 2012, has not yet received a single application due to ambiguity around existing entry rules.
Reuters
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