Tesco seeks clarity on retail policy: Anand Sharma
NEW DELHI (Reuters) - The chairman of Tesco PLC(TSCO.L) met Trade Minister Anand Sharma, seeking clarifications on the country's decision to open its supermarket sector to foreign investors, the government said in a statement on Thursday.
India threw its doors open to foreign supermarket chains last year in the teeth of fierce domestic opposition, but attached strict conditions, including on sourcing, in the policy.
In a meeting in Davos, Sharma told Tesco Chairman Richard Broadbent that foreign investors would be provided "hand-holding" while entering the Indian market, and asked Tesco to put their concerns about the retail policy in writing, the statement said.
(Reporting by Matthias Williams)
- Tweet this
- Share this
- Digg this
- U.S. nurse quarantined over Ebola calls treatment "frenzy of disorganization"
- Wall Street finally turning on Amazon as Bezos magic fades
- Former Cream frontman Jack Bruce dies aged 71
- São Paulo running out of water as rain-making Amazon vanishes
- Iraqi security forces and Kurds gain ground against Islamic State
The Nifty will stay in a broad band of 7,800-8,200 with an immediate resistance at around 8,050 levels. One should look to selectively accumulate in sectors such as infrastructure, capital goods, cement, power and metals. The outperforming sectors such as pharma, IT and auto ancillaries could take a breather due to international headwinds, writes Ambareesh Baliga. Full Article
Euro zone risks "relapse into recession" without structural reforms - Draghi. Full Article