Indian left parties oppose tie-up of Bharti, Wal-Mart
Pallab bhattacharya, New Delhi
A day after leading Indian conglomerate Bharti Enterprises announced a joint venture with US retail giant Wal-Mart in India, the Left parties, which provide crucial outside support to the government of Prime Minister Manmohan Singh, opposed the tie-up and sought government intervention to stop "back door" entry of the multinational corporation.Commerce and Industry Minister Kamal Nath said the government would examine if the joint venture between the Wal-Mart and Bharti Group adheres to permissible limits of FDI in retail sector. The politburo of CPI (M) said in a statement here on Wednesday that FDI in retail was not allowed under the existing policy and the Wal-Mart's agreement with Bharti was an attempt to "circumvent" the policy regulations and gain a foothold in Indian market.
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