Wal-Mart, Tesco seek stability guarantees from India's government

06/20/2013 | Business Standard (India)

Multi-brand retailers Wal-Mart and Tesco want assurances that future changes in India's government won't result in a reversal of new foreign ownership rules, before they submit proposals to invest in owned operations in the country, according to an internal government note. The retailers worry that "the next government could reverse the MBRT policy. States which have at present opted for opening of front-end stores in their territory can opt out at a later stage," the note says.

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