Thursday, February 15, 2007

Wal-Mart, Bharti to finalize agreement next week

Bharti and Wal-Mart will be finalizing the details of their joint venture agreement in the next week, when Wal-Mart vice-chairman Michael Duke visits India on February 22. He is likely to meet Kamal Nath, the Commerce and Industry Minister to discuss the country's retail FDI policy. At present, the government permits direct investment in only wholesale trade such as cash and carry operations and for 51% in single brand retail.

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