Long wary of foreign investment, India has begun to usher in a set of reforms that will allow international corporations to gain a foothold and open up the retail sector in the world's second most populous country.
Restrictions on Wal-Mart and other mega-retailers were lifted in September, along with barriers to investment in the aviation and broadcast media industries. A month later, the government proposed increasing the amount of foreign investment allowed in Indian insurance and pension schemes.
The reforms are among the most aggressive in decades, yet still require foreign operators to partner with Indian companies.
In addition, large retail operators will only be permitted to open stores in the 53 cities with a population greater than one million people. And states retain the right to veto the new initiatives.
- 2Chicago PMI drops sharply in July
- 2U.S. Could Move to Sanction Russia Derivatives, Short-Term Funds
- 2U.S. Stocks Slide as Exxon, Whole Foods Fall on Results
- 2U.S. jobless claims up, wage growth starting to push higher | Top Forex Brokers
- 2Jobless Claims in U.S. in Past Month Drop to Eight-Year Low
- 3Stock market live blog: Dow erases gain, but S&P still up; Fed statement fears get the blame
- 2Economy in U.S. Grows More Than Forecast
- 2Treasuries Drop, Metals Rise After GDP; Stocks Pare Gains
- 2Dollar Rises to 4-Month High as U.S. GDP Tops Forecasts
- 2ADP Says Companies in U.S. Boosted Payrolls by 218,000
Become Our Fan
apple asia stocks asian stocks australian dollar bernanke boj china dollar ecb economy eur eur/usd euro euro zone europe stocks european central bank european stocks eurozone eurusd facebook fed federal reserve forex forex news forex trading fx gbp/usd gold google greece imf japan obama oil pound spain stock stock market stocks swiss franc u.s dollar u.s. dollar u.s. economy u.s. stock u.s. stock futures u.s. stocks us dollar usd wall street yen