India opens retail to global supermarkets

18 Sep 2012 3:25 PM | Anonymous

India's government has once again cleared a controversial plan to open up its lucrative retail sector to global supermarket chains.  Last year, the government suspended a similar plan after fierce opposition from its allies and political rivals. International firms will now be able to buy up to a 51% stake in multi-brand retailers. 

Analysts say the government has reintroduced the measure in an effort to revive a flagging economy.