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Tesco seeks clarity on retail policy: Anand Sharma
January 24, 2013 / 11:24 AM / 5 years ago

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.

A man carries a carrier bag as he leaves a Tesco supermarket in London October 5, 2009. REUTERS/Luke MacGregor/Files

    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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