Politico Pro: Wal-Mart pulls out of India’s retail market

Politico Pro: Wal-Mart pulls out of India’s retail market
October 9, 2013
By: Eric Bradner

Wal-Mart Stores dropped its plans to expand into India’s retail market on Wednesday, citing the country’s complex regulations that limit international ownership of the superstores for which the company is known.

The U.S. retail company announced it is ending its six-year joint venture with Indian retailer Bharti Enterprises. As a result of the separation, Wal-Mart will continue to run its wholesale “cash-and-carry” business in the country, but Bharti will take over all retail operations…