8/13/2010

Wal-Mart and Carrefour are urging the Indian government to allow at least 51% foreign direct investment in the country's multibrand retail sector. "Bharti Walmart believes that FDI in multi-brand retail should absolutely be permitted, and ideally without any restrictions (i.e. fully open at 100 per cent)," the company said in a letter to India's commerce ministry. "Full opening of FDI in retail will create the conditions for the greatest flow of investment to the back-end with the related benefits for farmers, small businesses and consumers."

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