Wal-Mart and Bharti Enterprises are close to finalising a deal that will see the establishment of a cash-and-carry joint venture and back-end linkages in a mass retail operation, Bharti chairman Sunil Mittal has revealed.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
“We are very close. We can’t fix a time-frame, but we hope it will happen in the next few weeks,” Mittal commented.
Wal-Mart and Bharti have been in talks regarding the establishment of a partnership that would see Wal-Mart gain access to the Indian retail sector. Foreign companies are currently prohibited from direct ownership of multi-brand retail channels, although they are permitted to establish cash-and-carry operations.
In contrast to Bharti’s outspoken approach, Wal-Mart has remained more guarded on its plans for India. “We are not yet at a stage where we want to make our plans for the Indian market public,” a spokesperson for the retailer told just-food on Friday (23 February).
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
