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U.S. urges India to open up retail sector
By agencies
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Monday, 12 December 2005, 20:30 IST
KOLKATA: The U.S. that has been repeatedly asking India to open its retail sector to FDI said such a move would lead to a huge inflow of foreign capital and would be a "win-win" situation for both.
"Investment in the retail sector would allow a significant amount of capital inflow in India. Opening up of the sector for FDI would be a win-win situation," U.S. Consul General in Kolkata Henry Victor Jardine said.
Stating that a number of American retailers were interested in India, he said America was hopeful that the issue of allowing FDI in retail sector, currently being discussed by the Union government, would get a go-ahead soon.
Jardine said investment in retail, particularly in infrastructure building in food supply projects, was a very exciting area and would be lapped up by U.S. companies.