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Anand Sharma, minister of commerce and industry: "The entry of foreign retail giants would create 40 lakh direct jobs".
On Thursday morning, Indian media quoted unnamed government sources saying that type of foreign retail investment might still be allowed to move forward.
The entry of foreign retail giants into India is politically delicate: the governing Congress Party seems eager to be seen as protecting the needs of Indian retail workers.
None of the speakers had any doubt that the arrival of foreign retail chains would benefit Indians through competition and job creation, and that the fear of foreign corporations was a comically anachronistic sentiment.
They have been blamed for blocking further liberalization of the economy, including the entry of foreign retail chains, for putting the brakes on proposed changes in labor laws and for opposing the nuclear deal on the basis of a lingering cold war mind-set.
That change could result in a flood of foreign retail and food chains opening for business in Vietnam, reckons Frederick Burke, a managing partner at law firm Baker & McKenzie in Ho Chi Minh City.
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Among these reforms is the lifting of restrictions on foreign retail chains investing in India.
By Wednesday, with other important pieces of legislation stalled, Mr. Mukherjee announced the government's retreat on foreign retail as part of a deal with opposition leaders to restart Parliament.
The political maneuverings of the Congress Party were secondary on Wednesday for many business leaders who regarded the retreat on foreign retail investment as a major blow.
Leaders of most Indian states, including Bihar, of which Patna is the capital, have said they will not allow foreign retail outlets to operate within their borders.
Foreign retail giants would help rural farmers, he said, as well as salvage the huge amount of food that rots before getting to consumers.
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