FDI boost for India’s retail store builders

In India, Foreign Direct Investment (FDI) in multi-brand retail has been cleared by the Parliament. This has delighted commercial real estate developers as they were earlier facing problems of building and renting out malls. Initially, developers were planning to postpone or cancel projects that involved building malls or other retail spaces. But, now they  plan to launch new projects which are expected to bring in international retail chains such as Wal-Mart, Tesco and Carrefour.