India’s Sharma Says FDI in Retail to Create 10 Million Jobs
This article is for subscribers only.
India’s Commerce Minister Anand Sharma said the cabinet’s decision to allow foreign retailers such as Wal-Mart Stores Inc. to open outlets in the country will create up to 10 million jobs and give farmers better prices.
The first major change to Indian foreign ownership rules in five years announced yesterday is opposed by Prime Minister Manmohan Singh’s two largest parliamentary allies and the main federal opposition Bharatiya Janata Party. Lawmakers protesting the move forced the adjournment of parliament today, the fourth day in a row that debates have been suspended in the house.