Nov. 6, 2009 (The Hindu Business Line) --

New Delhi, Nov. 6

India has once again ruled out the possibility of allowing international multi-brand retailers to enter the country saying it will stick to the current single-brand foreign investor model. “This is no time for us to revisit the plans in multi-brand retail,” Mr Anand Sharma, Commerce and Industry Minister, said when asked whether the Wal-Mart (NYSE:WMT) Chairman, Mr S. Robson Walton, had met the Prime Minister, Dr Manmohan Singh, to lobby for opening up of the retail secto r. “Wal-Mart did meet Prime Minister. They are happy to run their retail venture in India and are hoping to connect more on the farm-to-fork initiatives,” he added. Wal-Mart has a joint venture with Bharti Group for its front end and cash and carry retail format. Mr Rajan Bharti Mittal, the Managing Director of Bharti Enterprises, said, “Walton was in India on a private visit to understand the India market. We have no clear understanding if he met up with the PM. However, we continue with our stand that multi-brand retail sector should be opened up in the country”.

– Our Bureau