The UK’s Tesco is reportedly in talks with potential Indian partners, including Tata Sons, with a view to entering the country’s burgeoning US$300bn retail market.
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“We are interested in India and are researching the market,” a Tesco spokesman told just-food.
Indian regulations prohibit foreign companies from owning multi-brand retailers, but they can invest in wholesale and back-end operations.
Tesco had been in negotiations with Indian telecommunications giant Bharti Enterprises regarding a possible tie-up, but was pipped at the post by US retail powerhouse Wal-Mart. The UK’s number one retailer is now understood to be holding negotiations with various other Indian groups, notably the Tata Group.
Indian business house Tata already has a presence in the retail market, operating lifestyle and apparel stores.
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By GlobalDataTata was unavailable for comment at time of press.
