Friday, June 3, 2011

FDI in multibrand retail to change India's retail skyline

Retail giant Wal-Mart is open to exploring a relationship with any Indian retailer for its front-end operations but of course, that's only if, and when, foreign direct investment in multi-brand retail is allowed, report CNBC-TV18’s Tanvi Shukla and Shruti Rajkumar.

The call for opening up the retail sector to foreign-direct investment is increasing in volume with key policy makers and government advisors giving the move their endorsement. The inter-ministerial group (IMG) on inflation, set up by the prime minister, has also given its blessings, saying FDI in multi-brand retail will help control rising prices.

Would this be an opportunity or a bane for the traditional retailers across India?

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