By  on December 10, 2012

NEW DELHI — After a politically charged debate for the last two days in the upper house of Parliament, the Rajya Sabha, a final vote Friday afternoon made the mandate on foreign direct investment in retail clear: the debate is over and it’s time to get down to business.

Global retailers now will be able to own 51 percent of multibrand retailers, giving them a piece of India’s $500 billion retail market.

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