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‘B2B foreign retail chains found flouting FDI norms’

Web portal Cobrapost in a sting has claimed that store executives let routine shoppers buy goods for personal use.

By: ENS Economic Bureau | New Delhi | Published: November 21, 2014 3:26:23 am

International retail chains including Walmart, Metro and Carrefour have been found to be allegedly flouting foreign direct investment (FDI) norms in India, according to a sting operation conducted by web portal Cobrapost.

In an almost two-hour long documentary released by Cobrapost on Thursday, persons alleged to be executives of these firms are seen to be permitting and promoting retail operations in their respective stores. According to the law, FDI in multi brand retail is currently not permitted, and these wholesalers have been mandated to adhere strictly to B2B operations.

Cobrapost claims the store executives were willing to allow routine shoppers to buy things for personal consumption. They were allowed entry on the membership cards issued to a few businessmen to which the entire amount was billed. Journalists from the web portal claim to have visited 12 Best Price (Walmart) stores , seven Metro stores and four Carrefour stores across 15 different cities to confirm their findings.

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