Wednesday, December 7, 2011

India Suspends Plan to Let In Foreign Retailers

“Facing a harsh political backlash that has paralyzed the Indian Parliament, the governing Congress party buckled Wednesday,” closing the door on foreign companies like Wal-Mart, Jim Yardley writes in the New York Times Wednesday.

Foreign corporations eager to enter the Indian retail market must now also put aside any expansion plans for the foreseeable future.

Read full story for details.

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