- Reuters•2 years ago
The government of India's western state of Rajasthan has barred foreign direct investment in the multi-brand retail sector, newspapers said, becoming the second state to block foreign supermarkets from ...
- Reuters•3 years ago
The newly elected provincial government in India's national capital on Monday barred foreign supermarkets from setting up shop, a blow to Prime Minister Manmohan Singh's efforts to attract overseas investment and revive the economy. Singh had thrown open the country's $500 billion retail industry to foreign investors in late 2012, allowing companies such as Wal-Mart Stores Inc and Tesco PLC to own a majority stake in local chains for the first time. But the policy was pushed through in the teeth of fierce opposition from domestic retailers and political parties, who said it would cause mass job losses in a sector that is mostly dominated by small, family run shops. Moreover, strict sourcing norms and a requirement that companies must ask permission from local state governments before opening stores have made most supermarket giants wary.
|52wk Range||1,161.00 - 1,879.00|
|Day's Range||1,732.40 - 1,850.00|
|Avg Vol (3m)||18,254|
As of 5:59 AM EDT. Market closed.