India: Foreign retailers regroup
The potential of the booming Indian market is captivating to the world's biggest store chains, which long to make it a linchpin of their growth strategies. Now, with the Indian government backtracking from retail liberalization, retailers like Wal-Mart Stores Inc. and Tesco PLC are retooling their plans.
The political backlash against foreign retailers was a major setback for Wal-Mart, which for years lobbied Indian officials to change the rules, arguing that allowing international retailers to run their own stores in the country would not only improve shopping options for the public, but modernize the entire economy.
Publication date: 12/13/2011
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