(MENAFN) Carrefour, the world"s second largest retailer, said it plans to exit India on political uncertainty about the future of multi-brand retail in the South Asian giant, according to Arab News.
India's Bharatiya Janata Party (BJP), recently elected in India's marathon general election, will oppose allowing foreign direct investment in multi-brand retail.
The Indian newspapers said Carrefour"s plans to leave the country come after talks to sell its five wholesale stores to Indian tycoon Sunil Bharti Mittal"s retail group failed.
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