INSTANT VIEW 1-India's cabinet allows 51 pct FDI in supermarkets

Newswire

MUMBAI, Nov 24 (Reuters) - India will open the country's retail industry to foreign supermarkets, a much delayed reform expected to help unclog supply bottlenecks and ease inflation over time. The government has allowed 51 percent foreign direct investment in the multi-brand retail sector. It also decided to raise the cap on foreign investment in single-brand retailing to 100 percent from 51 percent. The decision will be cheered by global retail giants such as Wal-Mart that have long been ...

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