Indian conglomerate Future Group has confirmed that it is mulling the formation of a joint venture with a number of international retailers.
“We are in talks with different retailers for a possible tie up,” a spokesperson for the group told just-food.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
However, Future has remained coy over the identities of these unnamed global players.
The confirmation follows long-running speculation that the Indian groceries-to-finance giant could be preparing to announce a tie-up with French retailer Carrefour through its retail unit Pantaloon Retail.
Carrefour has said that it will open its first cash-and-carry outlet in India this year.
However, under India’s rules governing foreign direct investment, the French multi-brand retailer is prohibited from selling directly to consumers.
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 GlobalDataIn order to circumvent these rules and establish a foothold in the rapidly-developing Indian retail sector, a number of international retailers have established joint ventures with local firms.
US behemoth Wal-Mart operates a cash-and-carry JV with Bharti Enterprises, while the UK’s Tesco has established an Indian presence in collaboration with Tata Group.
Meanwhile, Germany’s Metro Group operates wholesale stores independently in the market.
