NEW DELHI 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)
Trending On Reuters
Next year, Dr. Ketan Desai is slated to head the World Medical Association (WMA), guardian of the Hippocratic Oath. The WMA is standing by him, even as he battles conspiracy allegations in two Indian courts. Desai has been facing allegations that he conspired in 2009 to have the Medical Council recommend that a private medical college be allowed to add more students. Full article