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Carrefour contemplates India foray
23
Feb '10
The world second largest retailer, Carrefour of France is contemplating entering India's highly lucrative US $500 billion retail sector.

India's tight restrictions permit only single brand overseas investments in the retail sector like Reebok, Adidas and Nokia or else the overseas entity needs to enter in to a joint venture with a local partner and can only wholesale.

Fibre2fashion spoke to an official spokesperson of Carrefour in France who confirmed the news who added by saying the company is in the initial stages of researching the Indian market.

The biggest global retailer; Wal-Mart stepped in to India by entering in to a joint- venture with Bharti Enterprises and has opened a wholesale chain which goes by the name of Best Price Modern Wholesale.

Fibre2fashion News Desk - India

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