WAL-MART'S Indian JV optimistic over retail liberalisation

Planet Retail 3 Mar 2010

Indian retail/wholesale joint venture Bharti Wal-Wart has stated that it is positive that the Indian government will allow Foreign Direct Investment in the retail sector, given the "progressive" nature of the current government.

Bharti Wal-Mart MD and CEO Raj Jain said that they are positive that India's progressive government will move ahead with its policies of economic and social reforms, including allowing FDI in front-end retail. Jain attributed his positivity to Finance Minister Pranab Mukherjee's budget speech, saying it underscores the need to lessen the significant wastages in storage and also in the operations of the existing food supply chains in India.

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