Walmart And Carrefour Pushing India Investment

Walmart and Carrefour have written to the Indian government seeking clarity on certain rules guiding investments in multi-brand retail, including those related to compulsory sourcing of inputs from the small and medium enterprises (SMEs) and investing in back-end infrastructure, according to The Hindu Business Line. The retailers are looking for written assurances on their concerns so that their Foreign Direct Investment (FDI) proposals get easy approvals once submitted for clearance. The multi-brand retail segment was opened for foreign investors last September with the government allowing up to 51 per cent FDI in the sector, but no proposals have come in yet as retailers want more clarity on several issues. "Some announcements have been made in the Budget by the Finance Minister and some comments made by the Commerce Minister recently that favour investors. However, these are not spelt out in the policy. The foreign retail companies have sought clarity on these and other issues," the official said. Story