Walmart terms new FDI rule 'backward & roadblock' for trade relations09:10:00 AM, Friday 12th of July 2019 | in business
Walmart and Amazon have been trying to persuade the US government to make Indian counterpart soft on Press Note 2. As per the letter cited by the Reuters report, Walmart termed new FDI rule as backward and can be a roadblock for trade relations. Walmart requested USTR to ask Indian govt to extend the deadline by 6 months. However, the Indian govt didn't seem to blink for USTR concerns and implemented the new FDI rule.