Friday, October 21, 2005 IANS
Wal-Mart brass meets WB CM
KOLKATA: Even as India is looking at opening up the retail trade industry to foreign investment, officials of the $285 billion Wal-Mart Stores of the US have held talks with West Bengal Chief Minister Buddhadeb Bhattacharya.
The meeting on Thursday, which has been underplayed by the state government, has come at a time when Left parties have said they will oppose any move by the centre to open up retail trade, saying it would affect the livelihood of millions of small shop owners.
Industry representatives believe Bhattacharya may be able to prevail over his colleagues in Left parties to open up the sector that has a potential to draw hordes of overseas investors.
The chief minister downplayed the meet since there is opposition to retail entry of foreign companies in the party, but going by the trend Bhattacharya might well prevail over the party and its policies.
The meeting between Wal-Mart officials and the chief minister also comes ahead of a proposed visit to the US next month by the state's Finance Minister Asim Dasgupta to attract American capital.
Bhatacharya also has an invitation to visit the US.
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