Corporate America on Thursday welcomed the move of the Indian cabinet to permit foreign direct investment (FDI) in multi-brand retail and remove the cap on FDI in single-brand business, noting that it will help bring down inflation and create thousands of jobs.
“The singular act of
opening the multi-brand retail sector to foreign direct investment will significantly benefit the Indian consumer by spurring the modernisation of India's vast agri-retail marketplace,” said Ron Somers, president of the US India business council.
“Investments will now flow into India’s farm-to-market supply chain, which will usher in expertise and bring efficiencies to India’s supply chain infrastructure. Food price-rise and inflation will now effectively be tamed,” he said. 
“Opening the retail sector will create a larger market opportunity for Indian farmers, increasing quality and choice for India's sophisticated consumers,” Somers said.
“This change in policy is a good start to a win-win decision for all stakeholders, including customers, farmers and the government of India,” said Dough McMillion, president and CEO, Walmart International.