Tesco, Carrefour mull wholesale biz.
Economic Times (New Delhi, India), January, 2006
Jan. 11--NEW DELHI -- Even as the government dithers on FDI policy in retail trade, the world's third-largest food retailer, Tesco, and French retail giant Carrefour are planning to set up wholesale trading businesses, also known as cash and carry, in India. At the same time, Wal-Mart has started recruitment for its Sam's Club cash and carry in India.
While the current policy allows full foreign investment in wholesale trade, sources said in all probability, both Tesco and Carrefour will kickstart operations in India by forging joint ventures with local partners. Analysts read more into it. Some say the companies may use the local partner as the frontend at a later stage.
If foreign retail majors are in a hurry to enter India, there is a reason for...
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