For the first time since the rollback of the retail foreign direct investment (FDI) decision, US-based retail major Walmart has spoken out, reiterating its faith in the India market.
The largest retail chain of the world had maintained complete silence since the Indian government put on hold the Cabinet decision to allow 51 percent FDI in multi-brand retail. Walmart in a joint venture with Bharti Enterprises, told Business Standard it remained "optimistic and upbeat about India".
A month after the government kept in abeyance its 13-day-old Cabinet decision on retail FDI, Walmart said the chain has committed to its operations in India.
(Source: Business Standard)