Another Corporate Giant In Action

Thousands of irate street vendors attacked stores set up by Indian giant Reliance Industries in eastern India, saying the new nationwide chain threatens their livelihoods.

Some 5,000 vegetable sellers vandalised three Reliance Fresh stores in Ranchi in the first violence against the firm's plans to build a local version of US retail giant Wal-Mart, police said.

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The vandalised facilities selling fresh vegetables were among the first to be set up in eastern India by Reliance, which launched its multi-billion-dollar foray into the retail trade last November.

Reliance's retail move comes as domestic and global firms seek to tap India's increasingly affluent middle class, estimated at 300 million, in what commentators have dubbed the "great Indian retail gold rush."

The "Wal-Mart" effect, up close and personal.