Indian retail
Green light for FDI
On September 14, 2012, the Indian government approved one of Prime Minister Manmohan Singh’s (pictured) pet policies, 51% foreign direct investment in multi-brand retail, subject to approvals by individual states. In an interview with The Wall Street Journal, Wal-Mart Stores regional chief executive for Asia, Scott Price, said that Wal-Mart would be capable of opening stores in India within a timeframe of two years. Price added that the company expected to continue its partnership with Bharti Enterprises in operating Best Price Modern Wholesale.