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January 25, 2008

INDIA/FRANCE: Carrefour nears India JV

Carrefour is in the final stage of negotiations to choose a partner for stores in India’s fast-growing retail market.

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.

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