India PM defies calls to roll back retail reform

Source: 
CNBC

Indian Prime Minister Manmohan Singh rejected calls to reverse major retail market reforms, saying the entry of foreign supermarket giants would help modernise the USD450 billion sector and fight stubbornly high inflation.

The reforms have drawn howls of protest from opposition parties and from allies within Singh's Congress Party-led coalition. Parliament has been adjourned for six days, threatening other major bills, such as one on food subsidies for the poor.

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