Carrefour is in the final stage of negotiations to choose a partner for stores in India’s fast-growing retail market.
The French retail giant has confirmed its plans to enter India’s cash-and-carry sector, according to Reuters, which cited the French Embassy in New Delhi.
“Carrefour confirms its decision to enter the Indian market with cash-and-carry stores and confirms it is in the final round of negotiation to select an Indian franchisee partner for all other retail stores,” a statement from the embassy said.
In November, Gerard Freiszmuth, general manager for Carrefour in India, told just-food that the company was talking to three potential partners over a venture in the country.
At present, the Indian government bars overseas retailers from investing directly in the country’s retail business but multinational groups can operate cash-and-carry stores. Retail giants including Wal-Mart have set up local joint ventures.
Officials at Carrefour could not be reached for comment as just-food went to press.