Storm Of Protest Pushes India To Suspend Plan To Welcome Foreign Retail Stores

India’s governing Congress Party, reacting to a storm of political protest that has hamstrung the Parliament, said it will suspend plans to permit foreign multi-brand retailers like Walmart to open stores in the country. It was unclear how long the government will hold the plan in abeyance, though the Indian finance minister said it would wait until “a consensus has developed.” Foreign corporations keen on expanding into the huge Indian retail market will have to wait until the government passes critical reforms, especially those targeting foreign retail investment. The decision to suspend plans to allow foreign retailers into the country is yet another setback for Prime Minister Manmohan Singh, whose administration has been beset by scandals and other political problems.