India Blocks Plans To Let Foreign Retailers In
LINDA WERTHEIMER, HOST:
NPR's business news starts with a blow to big box retailers. India's government has blocked plans to allow foreign retailers like Wal-Mart to come into the country. It's a huge and promising market, but regulations there now protect small mom and pop stores.
Last month India's prime minister announced plans to open up retailing to multinational companies to try to make the industry more efficient. That provoked a storm of protest from opposition parties, and today, the government on Wednesday suspended what's been seen as a major effort at economic reform.
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