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Tesco voices concern over entry into Indian retail market
10
Nov '12
The global retail giant Tesco has expressed concern over sourcing conditions of Indian Government for foreign trade investment (FDI) in multi-brand retail sector.

Tesco said it is not an easy task for the foreign retailers to enter into the Indian market and the company needs to study these conditions of FDI before opening retail stores in the country.

Tesco has a franchise arrangement with Trent, the retail segment of Tata group, since 1998 and the company sources around US $500 million worth of goods every year from India including apparels.

Tesco was established in 1919 with a market stall in London and over the years the firm has become one of the world’s largest retailers. The UK-based company has its operations in 14 countries world-wide including India and it employs over 500,000 people.

Fibre2fashion News Desk - India

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