The document discusses the evolution of India's retail policies from protection-based to market-driven. It notes that India now allows foreign direct investment in retail and several global retail giants have entered the Indian market. However, there was also disagreement over further opening up retail to FDI. The document argues that global retailers could boost India's manufacturing sector and supply chains if they encourage their global suppliers to invest in India. But structural reforms are needed, including to agriculture and shop laws, to realize inclusive growth from modern retail.