Wal-Mart (WMT) has "stopped expanding" in India despite the retailer and its joint venture partner Bharti Enterprises starting to do "reasonably well," a retail analyst tells the FT. The move comes as the Indian government examines whether Wal-Mart's $100M convertible debenture investment in Cedar Support Services, the parent of Bharti Retail, amounts to an illegal foreign direct investment in supermarkets.
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