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Blackstone put off by Indian retail sector
13
Sep '10
Mr Gautam Chakravarti
Mr Gautam Chakravarti
Blackstone, which is among the biggest private equity (PE) firms in the world, is reluctant to invest in India's retail sector, informed Mr. Gautam Chakravarti who is Blackstone Advisors India's, Executive Director.

The Indian retail sector is in a tight corner, and some unpleasant incidents in this sector have made the company cautious. Blackstone has made investments to the tune of US $1.25 billion in around 12 Indian companies, in various sectors such as infrastructure, logistics, power, BPO, media, informed Mr. Chakravarti.

Internationally, it handles fee-earning assets worth over $25 billion and has a number of retail companies in its portfolio.

Indian retailers are restructuring their business with no further irrational expansion of stores. Most of them have closed down their loss-making stores and are now focusing on limited verticals, added Mr. Chakravarti.

He further said that there is a good chance for Indian suppliers to grow as most of the neighboring countries of India are in a bad situation and India's economy is going up, mainly due to a huge consumer base.

Blackstone holds 68.27 percent in Gokaldas Exports, which is one of the biggest garment exporters from India and also has interests in the domestic retail market.

Fibre2fashion News Desk - India

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