Retail consolidation at issue in India.
NEW DELHI, India -- India's main communist party, which plays a key role in the country's ruling coalition, has urged the government to establish a licensing fee for retail chains and prevent the entry of foreign players.
The Communist Party of India says that in a nation where there are millions of small grocery store owners and street vendors, "the potential social cost of growth and consolidation of organized retail [and the entry of such megaretailers as Wal-Mart Stores Inc.] is enormous."
Specifically, party leaders say the government should prevent what they call the pending "back door" joint venture between Wal-Mart and Indian retailer Bharti Enterprises.
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|Article Type:||Brief article|
|Date:||Jun 18, 2007|
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