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Indian opposition party threatens large foreign retailers

The favourite opposition party to form the new Indian government confirmed its intention, if elected, to ban large foreign retailers.

The BJP's Hindu nationalists (Bharatiya Janata Party) are the favourites in the polls which began on Monday.

The BJP explained that it would accept foreign investment in all sectors except large retail.

Large companies such as Wal-Mart and Carrefour could be banned from a market estimated at over €350 million.

It is not sure however that the threat will be implemented as the BJP will certainly have to form a coalition and convince such a measure to be adopted.

British retailer, Tesco, is the only foreign company to have currently invested in the Indian market. A joint venture with the Indian hypermarket Trent was created last month in order to operate 12 supermarkets in the South.

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