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The Indian government has reportedly assured global
retail giants Walmart and Metro that its retail reforms agenda is going
ahead
The Indian government last week assured international supermarket giants that its retail reforms are well on course, reports Asianage.com.
India's commerce and industry minister Anand Sharma told Walmart president Doug McMillon and Metro board member Frans Muller that India's decision to put foreign direct investment (FDI) in multi-brand retail on hold was "just a pause" forced by coalition politics, when he met them at the World Economic Forum in Davos.
"The decision has only been put on a temporary halt," Sharma is quoted as saying. "India growth story is intact and the government is committed to take forward the reform agenda."
He added that the government has restarted consultations, but only bona fide objections would be taken into account.
Walmart's McMillon is quoted as saying that his firm is committed to investing in India as an when FDI is allowed.
Metro's Muller said: "If retail FDI happens, it would be good for the entire trade and the Indian government seems to confident about that."
Source: http://www.fruitnet.com/content.aspx?cid=13268