CPGB-ML » Posts in 'India' category

Supermarket chains to set up shop in India

From the International Report delivered to the CPGB-ML’s central committee on 3 December

India is intending to allow foreign supermarkets to compete in its national markets, eg, Walmart, Carrefour and Tesco. Foreign companies are to be permitted to buy a 51 percent stake in supermarkets and to own single-brand retailers outright.

In this way, the government is hoping to control food price inflation, which has been averaging double-digit rises over the last year. It hopes that introducing foreign competition will help improve the efficiency of the supply chain and bring down consumer prices.

Small shopkeepers are not, however, welcoming this competition with open arms, and the decision is causing considerable political uproar.