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HindustanTimes Thu,24 Apr 2014

Tesco seeks clarity on India retail policy: Anand Sharma

Reuters  New Delhi, January 24, 2013
First Published: 16:51 IST(24/1/2013) | Last Updated: 16:52 IST(24/1/2013)

The chairman of Tesco PLC met trade minister Anand Sharma, seeking clarifications on the country's decision to open its supermarket sector to foreign investors, the government said in a statement on Thursday.

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India threw its doors open to foreign supermarket chains last year in the teeth of fierce domestic opposition, but attached strict conditions, including on sourcing, in the policy.

In a meeting in Davos, Sharma told Tesco chairman Richard Broadbent that foreign investors would be provided "hand-holding" while entering the Indian market, and asked Tesco to put their concerns about the retail policy in writing, the statement said.

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