Carrefour plans Indian investment
Approaches the Centre for obtaining its approval for setting up in India.
26/05/05 With the Government looking at opening up the retail sector for Foreign Direct Investments (FDI), French retail giant Carrefour has approached the Centre for obtaining its approval for setting up in India.
According to reports, officials of Carrefour, American retail behemoth Wal-Mart and the U.K.'s Tesco have held discussions with Commerce & Industry Minister Kamal Nath on this matter.
"The Government is at present considering allowing FDI into food processing and packaging segments," a newspaper quotes Kamal Nath as saying. "Since the processed food sector is directly linked with agriculture, investment here will be most beneficial for the rural economy."
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