NEW DELHI: The refusal by the Aam Aadmi Party (AAP) to allow foreign retailers to set up shop in the national capital will block creation of new jobs, dash hopes for consumers and create policy uncertainty for global chains.
The move comes at a time when several global retailers led by Tesco are planning to enter the multi-brand retail sector, which has the potential to add strength to the tentative economic recovery underway.
The red flag for multi-brand retail will also mean a blow to the battle to tame high prices hurting the common man. Hopes of setting up modern warehouses to cut out massive wastage of fruits and vegetables will be put on the backburner and also delay revival in the real estate sector banking on global retailers. Read More..