Retail in Asia

In Shops

Carrefour India MD meets industry minister

The Indian head of the French retail giant Carrefour, Jean Noel Bironneau, on Thursday called on Commerce and Industry Minister Anand Sharma amid calls from sectoral players to open multi-brand retail in India to foreign direct investment.

Although neither Sharma nor Bironneau commented on what transpired during their meeting, it is understood that the French retailer raised the issue of allowing foreign direct investment in multi-brand retail.

Last year the government had attempted to allow 51 percent FDI in the retail segment but had to suspend the move following widespread opposition, including from its own allies.