Tesco is still considering various options to enter the Indian retail sector despite the fact that Wal-Mart successfully entered into a retail partnership with Bharti Enterprises last week, a spokesperson for the company told just-food.

"We're researching the market and looking at various opportunities there," the Tesco representative commented. "It's an exciting market and we are watching it with interest," he added.

In an interview with Dow Jones, finance and strategy director Andrew Higginson said that the group is in talks with prospective partners and that these are progressing.

Foreign retailers are currently prevented from owning assets in  India's grocery retail sector by the country's strict regulations governing foreign direct investment (FDI).