Global Insider: Retail Opening Will Bring Broad Benefits to Indian Economy

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The Indian government finally approved a plan last week to allow international firms such as Wal-Mart to own 51 percent of multibrand retail stores. In an email interview, Pravakar Sahoo, an associate professor at the Institute for Economic Growth in India, discussed India’s retail opening. WPR: What concrete changes will the retail opening bring to India’s economy? Pravakar Sahoo: The approval of 51 percent foreign direct investment (FDI) in multibrand retailing, which was initially approved by the Cabinet in November 2011 after two years of deliberation but suspended due to the ensuing political furor, is a big step. It will […]

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