India’s Retail Revelation - India Real Time - WSJ:
"Well that was fast. Only a short 15 months after New Delhi announced its plan to open up the big-box retail industry to foreign investment, leaders have finally found their first taker. Britain’s Tesco last month unveiled a $110 million plan for a joint venture with the supermarket subsidiary of Tata to operate a string of supermarkets. And with atypical alacrity, regulators on Monday approved the deal barely two weeks after it was submitted to their consideration. A sign that India is finally (re)opened for business?
Not precisely. Instead, recent developments in the country’s retail industry provide yet another in a long list of teachable moments for both Indian politicians and voters. One can only hope the lessons sink in before elections due in May."
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