Saturday, July 23, 2011

RPT-UPDATE 2-India closer to opening up multi-brand retailers

Sat Jul 23, 2011 4:17am EDT


(Repeats story issued on Friday without changes to text)

* Govt committee recommends opening multi-brand retail to
foreigners * Recommends allowing up to 51 pct foreign investment * Measure will need cabinet approval, faces strong
opposition
By Abhijit Neogy and Matthias Williams NEW DELHI, July 22 (Reuters) - India took an important step
towards opening up its $450 billion retail sector to foreign
players such as U.S.-based

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