5 Dec 2011

Retail move on hold

12:26 pm on 5 December 2011

The government in India is reported to have put plans to open the retail market to global supermarket chains, on hold.

only days after approving proposals to raise the limits on foreign investment, the policy has reportedly been suspended, and won't be implemented unless there is consensus on the issue.

The decision to allow supermarket chains such as Walmart and Tesco into India sparked fierce opposition. Critics fear the move will destroy millions of jobs and businesses.