India's retail sector is attractive not only because of its fast grow…

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Clamouring to enter India's red-hot retail sector, the world's largest chains, including Walmart stores, Carrefour and Tesco, are seeking the best way to enter the country, despite a government ban on foreign direct investment in the market. Recent large investments by major Indian businesses, like Reliance Industries and Bharti Airtel, have increased the sense of urgency for foreign retailers....Last week, Bharti Airtel indicated that it was in talks with Wal-Mart, Carrefour and Tesco to set up a retailing joint venture....India's retail sector is attractive not only because of its fast growth, but because family-run street corner stores have 97% of the nation's business. But this industry trait is precisely why the government makes it hard for foreigners to enter the market. Politicians frequently argue that global retailers would destroy thousands of small local players and fledging domestic chains.