Indian reports have been circulating today that French retailer Carrefour has signed an exclusive franchise agreement with UAE’s Landmark Group to open a hypermarket in India.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
According to CNN-IBN, an Indian news television channel, a definitive agreement could be reached in the next three to four weeks.
Dubai-based Landmark currently operates non-food stores in five Indian cities but is not yet a player in the food retail market.
Foreign companies are barred from direct ownership of food retail chains by strict legislation restricting foreign direct ownership. UK retailer Tesco has also reportedly been in talks with Indian conglomerate Bharti with a view to entering the market through a partnership.
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
