date:Sep 20, 2012
Last week, the countrys Cabinet approved an amendment to the existing policy on Foreign Direct Investment (FDI) in Single-Brand Product Retail Trading in an effort to revive the countrys currently sluggish economy.
Through this amendment, international retailers will be able to buy up to a 51% stake in India-based multi-brand retailers.
The approval has been welcomed by foreign retailers, but has met opposition from a number of Indian politicians and small business owners in the country.
Rabo