Li Keqiang's India Visit
With wary eye on the U.S., China courts India
Chinese Premier Li Keqiang, smiling and effusive, was out to smooth ruffled feathers in India this week, promising to ease tensions and increase trade between Asia's fastest growing economies in his first trip overseas since taking office. Full Article | Slideshow
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Wal-Mart studying India's investment conditions
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A customer shops at a Best Price Modern Wholesale store, a joint venture of Wal-Mart Stores Inc and Bharti Enterprises, at Zirakpur in the northern Indian state of Punjab December 6, 2012.
Credit: Reuters/Ajay Verma/Files
NEW DELHI |
NEW DELHI (Reuters) - U.S. retailer Wal-Mart Stores Inc (WMT.N) is studying the conditions attached to India's decision to open its supermarket sector to foreign investors before finalizing a decision to invest, a government statement said 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.
The CEO of Wal-Mart International, Doug McMillon, told Trade Minister Anand Sharma at a meeting in Davos that the firm was "excited about India" but studying the conditions before making an investment announcement, the statement said.
Sharma said the firm should not be "unduly concerned" about the prospect of a policy reversal.
(Reporting by Arup Roychoudhury)
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