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New Delhi Feb. 22 Even as black flag bearers thronged the outer walls of the IGI Airport here, the Wal-Mart Vice-Chairman, Mr Mike Duke, was whisked away through the airport's back gate.

Earlier in the day, over a hundred demonstrators waving banners and shouting slogans marched across the city protesting the world's largest retail chain's entry into India. While some broke through police barricades, others burnt an effigy of a dummy with `Wal-Mart Down' written on it. Activists of the Left party, allies of the ruling UPA Government, were also seen protesting with placards saying `No FDI in retail'.

Meanwhile, the Bharti Enterprises Chairman and Group Managing Director, Mr Sunil Bharti Mittal, told Business Line, "Mr Duke is in the country to recce the current domestic retailing scenario. A decision on our tie-up with them will be soon announced."

Bharti had recently announced its plans to invest up to $2.5 billion by 2015 in its retail venture. While the Indian company would manage the front-end retail stores, the US giant would take care of the back-end operations such as logistics and supply chain. The country does not permit foreign direct investment in multi-brand retail and the Left parties have been opposing the move to liberalise the sector for entry of global players such as Wal-Mart, Tesco and Carrefour.

More Stories on : Retailing | Foreign Direct Investment

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