Finally, FDI in retail

Given UK retailer Tesco’s decision to put in an FIPB application for a $110 million investment in a joint venture with Trent Hypermarket Limited, the government can take heart that its multi-brand FDI policy is finally working—after the initial failure with the world’s largest retailer WalMart refusing to invest despite several rounds of clarifications, the impression was that India’s rules were way too restrictive.

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