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India's Shop Owners Go On Strike!

Filed under: Business BlitzWalmart

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Small business owners in India are mad as hell about the government's new foreign retail policy, so they're going on strike.

Last week the Indian Cabinet decided to increase the single brand ownership cap from 51% to 100%, which would let big name retailers like Walmart, Ikea, Tesco and Carrefour to come into the country.

Since 90% of India's retail market are mom-and-pop shops, the decision could ultimately wipe out thousands of jobs, but the government doesn't see it that way.

Rajiv Kumar, secretary general

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