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)
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The Indian subsidiary of Anglo-Dutch parent Unilever made a net profit of 10.57 billion rupees ($175.9 million) for the three months ended June 30, from 10.19 billion rupees in the same period a year earlier. Full Article