India may make it easier for foreign chains to open shop

07/1/2013 | Economic Times (India), The

Foreign multi-brand retail chains such as Wal-Mart and Tesco would be able to open stores without meeting minimum investment and mandatory sourcing rules if they kept their ownership stake below 50%, under a new proposed measure. The finance ministry proposed the change this week to woo big chains that have been reluctant to propose new India operations since the country approved foreign-direct investment rules last year.

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Economic Times (India), The

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