CARREFOUR India calls for 100% FDI in retail

Planet Retail 11 Aug 2010

Hypermarket operator Carrefour has called for India to allow 100% FDI in multi-brand stores, following a similar call from Walmart. Carrefour said the move would ease inflationary pressures, and promise to create a strong infrastructure and thousands of jobs in India if the change in the law came about. "Any cap or restriction on FDI in this sector may result in potential loss of opportunities and avenues of inclusive growth of the retail sector," Carrefour said.

The government has taken a tentative step to open the politically sensitive food retail sector - which employs 34 million people - to global players with the Department of Industrial Policy and Promotion (DIPP) releasing a discussion paper on the issue.

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