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India Panel Advises $100 Million Minimum Retail Investment

Wal-Mart Stores Inc. and Carrefour SA may need to invest at least $100 million to start retail stores in India after a state panel set terms in its recommendations for opening the market.

“The government will consider and take an early policy decision,” Anand Sharma, minister for commerce and industry, said in parliament yesterday. India’s cabinet will decide on the panel’s recommendations, which propose easing ownership rules for stores that sell more than one brand, he said.