Tesco has confirmed that it plans to open its first wholesale cash-and-carry outlet in India this year.
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The UK retailer, which announced its intention to develop a wholesale chain in India in November 2008, appears poised to open its first outlet within the next 11 months.
“We are developing our first store which we aim to open before the end of this year,” a spokesperson for the group told just-food today.
Indian rules governing foreign direct investment prohibit international retailers from controlling multi-brand retail outlets in the country.
However, FDI regulations allow oversees retailers to operate such enterprises in conjunction with a local player or to operate stand alone wholesale businesses.
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By GlobalDataTesco already operates a network of consumer retail outlets located in Mumbai, Bengaluru, Ahmedabad and Chennai through its joint venture with Indian firm the Tata Group.
