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India to open retail sector

world Updated: Dec 09, 2010 01:30 IST
HT Correspondent
HT Correspondent
Hindustan Times
India

India is possibly closer than ever before to throwing open its multibrand retail sector — supermarkets such as Walmart — to foreign investment, a politically thorny issue that has evaded resolution for years.

A consensus is “around the corner”, Indian commerce secretary Rahul Khullar told The Wall Street Journal in an interview in New Delhi. “The status quo will definitely change.” But he didn’t elaborate on the size of the FDI to be allowed.