INDIA: Tesco rumoured to eye Indian market
The Bharti Group and Tesco are considering a joint venture, allowing each company to move into the Indian food retail sector, The Economic Times of India has reported.
It is rumoured that Bharti would enter into a licensing agreement to use the Tesco brand. The UK's largest retailer would also offer its knowledge of the industry, infrastructure and supply chain management experience.
Such a move would allow Tesco to circumvent Indian rules that prevent direct foreign investment in food retail.
Tesco, who are unable to release any details that could effect the market with financial results coming up, declined to comment on the conjecture.
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