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TESCO and the INDIAN market: a long-waited BOOST!

After years of continuous negotiations and restrictions to the Indian market, India’s £300bn retail market has finally become accessible to major international supermarket brands such as Tesco, Carrefour and Walmart.

In its recent interview by CBB, India's finance minister, Manmohan Singh, declared the liberisation of the economy by scrapping licensing and getting opening up to foregin traiters and investors. Indian policy currently encourages foreign investment and no longer discriminates in favor of small, inefficient firms against large, efficient ones. The benefits are starting to be felt in both the private and public sectors, with expectancy of raised standards in finance, higher education and infrastructure.

In 2008, Tesco decided to invest £60m in the cash and carry joint venture with Indian conglomerate Tata. The intent was that a strategy like this would help the company set a foothold gain in the country in anticipation of the law change. With no longer tight conditions for market entry, Tesco could soon see a boost in the share price within a short period of time.

Previously, the lack of infrastructure, poor quality roads and a lack of refrigeration meant that around 40 percent of Indian fruit and vegetable supplies rotted before reaching consumers and added that more investment in the country's food industry would keep prices down and help the overall economy.

A dream which has long been sought by both sides, it is now becoming reality.

To read more on this article, follow the ink to http://www.france24.com/en/20120920-indian-workers-strike-protest-foreign-hypermarkets-tesco-walmart-carrefour-retail