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New retail policy riles lawmakers in India

Foreign owners’ gains are disputed

By Muneeza Naqvi
Associated Press / November 30, 2011
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India’s ruling Congress party failed yesterday to persuade both its allies and the opposition to support the country’s new open-door policy for foreign retailers. The Cabinet decision last week to let foreign retailers own up to 51 percent of supermarkets and 100 percent of single-brand stores has unleashed a political furor across the country, with parties across the spectrum demanding its immediate revocation.

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