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Reliance Retail to post first profit after sinking $1bn for 7 years but boding little for FDI

The expected good news belies the difficulty with which it will have been achieved, involving over $1bn of investments and management patience; a feat that its domestic competitors in the retail space have apparently been unable to duplicate so far. It is also something that few foreign investors into Indian retail may be able to or want to do, notwithstanding the deep pockets of global giants Carrefour, Wal-Mart and Tesco, reports [Reuters]

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