(MENAFN) The state of Rajasthan in India has decided to ban foreign direct investment (FDI)in supermarkets, Khaleej Times reported
The move is a terrible sign for global retailers who esteem India's vast but fragmented retail sector if the main opposition Bharatiya Janata Party (BJP) comes to power
The party is more investor-friendly than the current ruling party but it opposes foreign direct investment in supermarkets because of its impact on small shopkeepers
Secretary general of ASSOCHAM said: "If one party reverses the decision of its rival dispensation upon change of guards, the policy and political risks for global investors would definitely increase in India, scaring them away.
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