French retailer Auchan has reportedly been in talks to establish a joint venture with Bombay Dyeing, a company owned by the Wadia Group.
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Indian restrictions on foreign direct investment (FDI) prevent foreign retailers opening multi-brand outlets in the country unless they are working in partnership with an Indian company.
Wadia has also reportedly entered into negotiations with France’s Carrefour with a view to forming an alliance. However, according to the Economic Times, Wadia is still undecided as to which French retailer it will choose to work with. Carrefour, the report suggested, is also talking to other Indian business houses.
Auchan declined to comment on its Indian plans.
Carrefour told just-food that India is a market that the retailer is “watching closely”, but would not comment further on its reported aspirations to enter the market.
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