Arab Today, arab today walmart cannot meet india\s local sourcing rules
Last Updated : GMT 15:52:07
Arab Today, arab today
Arab Today, arab today

Walmart: Cannot meet India\'s local sourcing rules

Arab Today, arab today

Arab Today, arab today Walmart: Cannot meet India\'s local sourcing rules

Mumbai - AFP

Walmart has told India that it is unable to meet local sourcing requirements for foreign supermarket groups wanting to open stores in the country, a report said Wednesday. Under rules introduced when the government opened up the sector in 2012, foreign supermarkets are required to buy 30 percent of their products from local small-scale industries. Walmart has \"orally conveyed its stand\" to the government over the policy, the Press Trust of India reported, adding to complaints from US companies that they are unable to operate in India. US Vice President Joe Biden is in India this week to urge New Delhi to further open its doors to US companies and press their case in the nuclear, defence and retail sectors among others. Walmart, which said last year it wanted to launch its first supermarket within two years, has said it can procure only about 20 percent of its goods from small Indian industries. \"We are still very early in the process on FDI (foreign direct investment) but are excited by the opportunity in front of us,\" a Walmart spokeswoman was quoted by PTI as saying. \"We continue to work with the government to better understand the rules that exist for FDI.\" Walmart India officials were not immediately available to comment to AFP. India\'s left-leaning government has opened up or proposed opening the banking and insurance, airline, energy and media sectors to foreign investors but has imposed conditions in each case. Experts have warned some of the conditions, designed to protect local industries and counter criticism India is \"selling out\" to foreign multinationals, are often too restrictive and will scare off foreign investors. The US supermarket group already operates in India as a wholesaler via a partnership with Bharti, owner of India\'s top mobile phone firm, but it is unable to sell directly to consumers. Last year, New Delhi allowed foreign supermarkets to establish 51-percent joint ventures in the country as part of Prime Minister Manmohan Singh\'s drive to seek outside investment to perk up a sharply slowing economy. India\'s opposition lawmakers in the past have expressed concern over Walmart\'s entry, saying it will hurt local \"mom and pop\" stores.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today walmart cannot meet india\s local sourcing rules Arab Today, arab today walmart cannot meet india\s local sourcing rules

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today walmart cannot meet india\s local sourcing rules Arab Today, arab today walmart cannot meet india\s local sourcing rules

 



Arab Today, arab today Designer prepared new set of ornaments

GMT 02:45 2017 Wednesday ,28 June

Designer prepared new set of ornaments
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today
Arab Today, arab today

GMT 08:23 2017 Saturday ,24 June

Actress Feryal Yussef received new drama offers

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday