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News Summary: Starbucks to open 1st India store

The Associated Press

GRAND OPENING: Starbucks will open its first outlet in India by the end of October in an upscale neighborhood of Mumbai and offer coffee sourced locally.

SCALED-BACK GOAL: Starbucks, which is operating in India through a 50-50 joint venture with Tata Global Beverages, originally aimed to open 50 outlets in India by year-end.

VOTE OF CONFIDENCE: Wal-Mart and IKEA have also said they intend to open retail outlets in India as New Delhi has been fighting to open its retailing market to foreign players, over loud populist protests, in a bid to boost growth and boost its reputation among skeptical foreign investors.