Press Information Bureau

Government of India

Ministry of Commerce & Industry

24-January-2013 19:33 IST

Mr Doug McMillon, CEO Walmart International met Union Commerce Industry and Textiles Minster Shri Anand Sharma at Davos today and conveyed that Walmart is ‘excited about India’ and they are studying the conditions before making the final announcement.

Shri Sharma said that India’s Policy on FDI in Multi Brand retail has finality and they need not be unduly concerned about any policy reversal. Shri Sharma also asked them to send request for clarification, if any, in the written form to his Ministry. All necessary clarity will be provided, assured Shri Sharma.

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DS

FDI in Multi Brand retail confirmed final; firms instructed to submit written clarification requests for regulatory clarity. The retailer expressed interest but is studying domestic conditions before announcing plans. The Minister affirmed that FDI in Multi Brand retail policy has finality and instructed the company to send any requests for clarification in writing to the Ministry, which committed to providing necessary clarifications.