New Delhi, Dec 6: Walmart, world’s largest retailer, had informed the Industry Ministry last year that it is comfortable with India allowing 49 per cent FDI in multi-brand retail, in view of “political sensitivity” in the country.
The Union Cabinet in its decision of November 24, which has since been put on hold, permitted 51 per cent FDI in the multi-brand retail, well above expectations of the Walmart and its Indian joint venture partner - Bharti Group.
From: http://ping.fm/UH84y
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