French retail giant Carrefour has revealed that it is preparing to open its first cash and carry outlet in the Indian market.
“The Carrefour Group will open its first cash and carry store in the next few months,” a spokesperson for the company told just-food today (12 May).
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Indian rules governing foreign direct investment in the retail sector prohibit international retailers from operating multi-brand outlets that sell directly to the public.
However, overseas retailers are allowed to establish wholesale operations that supply Indian businesses.
Carrefour has declined to comment on reports that it is in talks with local retailers to establish a consumer-facing joint venture or operate Carrefour stores on a franchise model.
Reports have linked Carrefour to a possible franchise agreement with Indian conglomerage Future Group.
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