Retail in Asia

In Markets

India committed to key retail sector reform: Trade Minister

The Indian government is committed to opening its retail sector to foreign investment and will not reverse its stance, Trade Minister Anand Sharma said on Thursday, declining to say when the long-delayed reform could be announced.

Investors were rattled by fresh signs this week that India’s government coalition may hold off on widely anticipated reforms, especially on the USD450 billion supermarket sector, because of renewed opposition from coalition allies.

Sharma, in London to attend a pre-Olympics conference, declined to say if the decision could be announced, as many have expected, before the next parliament session on 8 August.