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Bloomberg
India is considering a proposal to lift a cap on investment by foreign retailers in local supermarkets, according to people with the knowledge of the matter. A meeting led by Prime Minister Narendra Modi may decide on a proposal to allow 100 percent investment by retailers such as Wal-Mart Stores Inc. and Carrefour SA if they agree to sell locally made products and invest at least $100 million, the people said, asking not to be identified because the discussions are private.
Others at the meeting, include Finance Minister Arun Jaitley and Commerce Minister Nirmala Sitharaman, the people said.