Sainsbury’s has insisted it has “no plans” to open stores in India following a claim from a local government minister the UK grocer was interested in entering the market.

India commerce and industry minister Anand Sharma was reported to have said Sainsbury’s was among a number of European retailers eyeing rolling out stores in the country.

“There have been expression of interest. The first step has been taken by Tesco, by Sainsbury’s. There has also been an expression of interest but not a formal proposal, from Carrefour, H&M. So they all are coming,” Sharma said, according to India’s The Economic Times newspaper.

India is relaxing laws on foreign investment in the country’s retail sector. The country’s government recently introduced proposals allowing foreign companies to own up to 51% of multi-brand retail businesses.

Sainsbury’s, however, was quick to rebuff Sharma’s claims. “We source a wide range of products from India and have recently applied to open a sourcing office there, pending approval from the Indian authorities. However we have no plans to open retail stores in India, as we are continuing to focus on growing our business in the UK.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.