NEW DELHI — The Indian government has relented to pressure from overseas retailers and revised some of the rules for foreign direct investment in multibrand retailing.
Although foreign retailers have been studying the $500 billion Indian market with steady interest over the last few years, and the government threw open the doors last November amid chaos and protests in Parliament, multibrand retailers remained wary of setting up operations that are 51 percent FDI owned and 49 percent locally owned.
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