New Delhi: India is considering a proposal to lift a cap on foreign direct investment (FDI) in local supermarkets, according to people with the knowledge of the matter. More From Livemint »The move is a partial reversal of Modi’s opposition to foreign retailers as he attempts to create jobs even at the expense of alienating his core support base—traders. Local traders are opposed to foreign retailers setting up stores India, saying the move will endanger their livelihood. India attracted $935.74 million FDI in retail trading from April 2000 to December 2016. Some of the foreign retailers have either closed down or curtailed operations due to policy uncertainty.

Source: Mint July 14, 2017 12:39 UTC