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Report: Tesco postpones opening wholesale stores in India


Mumbai, India -- A Monday report by Reuters said that the world’s third-largest retailer Tesco Plc has delayed its plans to set up wholesale stores in India, as it faces mountains of political red tape and controversy in the country.

Reuters, citing a report in the Business Standard newspaper, said that the supermarket giant will instead focus on setting up warehouses and back-end infrastructure.

Earlier in December, India suspended plans to open its $450 billion supermarket sector to foreign firms, backtracking from one of the government's boldest reforms in years in the face of a huge political backlash.

Other retailers such as Walmart, Carrefour and Germany's Metro have been progressing ahead with their wholesale operations in the country, according to the report.

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