Carrefour has remained silent on reports that it is in talks with India’s Future Group over the establishment of a joint venture that would provide the French retail giant with a foothold in the Indian market.
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According to a report in the Economic Times of India, which cites unnamed sources, “advanced talks” are now underway between the two groups.
The joint venture would likely see Carrefour providing logistical support to Future’s Big Bazaar supermarkets and operating a wholesale business, the report suggested.
This arrangement would echo the deal Wal-Mart has with Bharti and Tesco has with the Tatas.
Current Indian legislation has blocked the entry of foreign multi-brand retailers into the consumer retail market. Multi-brand retailers are only allowed to operate wholesale businesses or work with an Indian partner through franchise and licensing agreements.
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By GlobalDataA spokesperson for Carrefour declined to comment on whether or not the company was in talks with Future.
“It is the same position as before: we want to enter the market – primarily in wholesale but also with a local partner. But it is a case of finding the right partner to do so with,” the spokesperson said.
