Rajasthan Bars Entry of Foreign Supermarkets
February 1, 2014 7:13 PM EST
The government of Rajasthan has barred foreign direct investment in the multi-brand retail sector, newspapers said, becoming the second state to block foreign supermarkets from setting up shop.
A vendor waits for customers at his fruit stall at a market in Kolkata December 8, 2011.
Last month, the newly-elected Aam Aadmi (Common Man) Party government in the capital, New Delhi barred foreign supermarkets, opposing the efforts of Prime Minister Manmohan Singh to attract overseas investment and revive the economy.
Singh had thrown open the country's $500-billion retail industry to foreign investors late in 2012, allowing companies such as Wal-Mart Stores (WMT.N) and TESCO Plc (TSCO.L) to own majority stakes in Indian chains for the first time.
So far, fewer than half of India's 28 states have agreed to roll out the policy.
The decision by Rajasthan, ruled by the main opposition Bharatiya Janata Party (BJP), comes just months ahead of national elections that are due to be completed by May 2014.
Most Popular Slideshows
- From Fat To Fit: Celebrities Who Were Overweight Before They Became The Beauties That They Are
- Kendall Jenner Could Be Next Victoria's Secret Angel [PHOTOS]
- Pope Francis: World War III Has Started On Piecemeal
- Champions League Results: Barcelona Barely Escapes With A Win, Chelsea Fails To Hold On To The Lead [PHOTOS]
Join the Conversation
- Kate Middleton Pregnancy:Camilla And Princess Eugenie Reportedly Jealous, Claimed Duchess Only Good At Making Babies
- Prince Harry Reunites With Cressida Bonas On ‘Sex Tape’ Date Amid Dating Camilla Thurlow Reports
- Modern Forensic Science Reveals Evidence Of Brutal Killing Of King Richard III
- Avril Lavigne And Husband Chad Kroeger Call It Quits
- Racist Note Stereotyping Asian Drivers Left on Parked Car in NSW Sparks Online Outrage
- Google Nexus 6 Release Date on Q4 2014 Confirmed by T-Mobile Featuring Wi-Fi Calling
- 2 Reasons Nexus 6 Release Date is Worth the Wait: Android L Data Encryption & Material Design
- Samsung Galaxy Note 4 vs. BlackBerry Passport — Specifications, Features, Release Date And Price Showdown
- 3 Signs Apple iPhone 6 Could be in Short Supply Following its Sept 19 Release Date
- Australia Actively Rallying Support For International Coalition Against ISIS
- iOS 8 Jailbreak Release Update: Pangu Devs Will Outrace Evad3rs in Rollout of iPhone 6, iPad Unlocker
- Micromax Canvas A1 Vs Spice Dream Uno Vs Karbonn Sparkle V: A Choice On Which Android Is The Best