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Carrefour set for India breakthrough

Carrefour set for India breakthrough

French supermarket group Carrefour, the world's second largest retailer, is close to a deal that will finally see it set up franchise stores in India, a report said yesterday.
The French group has been looking for a partnership in India for years and was first reported to be in talks with Indian group Future Value Retail, a unit of Pantaloon Retail, in January last year.
The Economic Times reported Tuesday that the two companies were now "close to deal" that would soon be formally announced.
A tie-up would follow similar alliances between India's Bharti telecoms group and U.S. Wal-Mart and the Indian tea-to-steel Tata Group and Britain's Tesco.
Future Value Retail owns supermarket chains Big Bazaar and Food Bazaar.


Updated : 2021-10-16 03:29 GMT+08:00