India declines multi-brand retailing due to risks to small, family-run stores.

Union Minister Piyush Goyal has confirmed that India will not permit multi-brand retailing, citing its potential harm to small, family-run stores crucial to the economy. He emphasized India's commitment to economic reforms and noted that while foreign investment is welcome in many sectors, including 100% ownership in defense, the government prioritizes the preservation of its small retail sector and aims to integrate them with technology without altering their core business model.

October 03, 2024
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