Tesco seeks clarity on India retail policy

NEW DELHI: The chairman of Tesco PLC met India's Trade Minister Anand Sharma, seeking clarifications on the country's decision to open its supermarket sector to foreign investors, the Indian government said in a statement on Thursday.

India threw its doors open to foreign supermarket chains last year in the teeth of fierce domestic opposition, but attached strict conditions, including on sourcing, in the policy.

In a meeting in Davos, Sharma told Tesco Chairman Richard Broadbent that foreign investors would be provided "hand-holding" while entering the Indian market, and asked Tesco to put their concerns about the retail policy in writing, the statement said.