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Report: India closer to allowing foreign retail investment
New Delhi, India — A Thursday report by Bloomberg said that India will announce new rules for foreign investment in retail by April 2012, which will pave the way for Wal-Mart Stores and Carrefour SA to open stores in the country.
“We are much further down the process than people think,” said Junior Trade Minister Jyotiraditya Scindia in an interview with Bloomberg. “I think it is a huge opportunity” for India.