Wednesday, December 7, 2011

Update: India closes doors to Wal-mart & Tesco shortly after welcoming them

Just a few days ago, India had announced opening of their retail markets to foreign companies  (Foreign direct investment/ FDI) the likes of Wal-Mart (WMT). Now the ruling party have been forced to reverse their decision after opposition parties in parliament have prevented any legislative action until it is reversed. 

Although India is a member of the WTO, this hardly seems to be a fair, open, and free market move. This will prove to be a black eye in their bid to become global power. 

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