India considers new reforms to lure foreign-owned supermarkets: report
AFPNEW DELHI -- India's government is to propose watered down legislation later this month to open up the retail sector to foreign supermarkets, news reports said on Tuesday.
September 12, 2012, 12:02 am TWN
The Mail Today tabloid and Hindustan Times reported that the government would propose allowing groups such as U.S. giant Wal-Mart or French multinational Carrefour to own up to 49 percent of local subsidiaries.
The legislation would also include provisions for state governments to set local conditions for the groups, a move designed to head off opposition to the highly controversial legislation.