MNC retailers may get to enter smaller cities too

NEW DELHI: The government may allow foreign multi-brand retailers to set up stores in cities with a population of less than a million, a measure that is part of the possible relaxation of norms that the department of industrial policy and promotion (DIPP) is examining. A senior official said the commerce and industry ministry might […]

Walmart, Tesco seek assurance on non-reversal of FDI policy

Global retailers like Walmart and Tesco have sought assurance from India that any change of governments at both centre and states should not result in reversal of FDI policy in multi-brand segment, before taking investment decisions in the country. Bentonville-based Walmart has also raised apprehensions about the ongoing probe by investigating agency Enforcement Directorate, said […]

Tesco treads cautiously in India

While talking about Tesco’s plans for India, China and Turkey last week after the announcement of the retailer’s 2012-13 results, Chief Executive Philip Clarke was particularly silent on its India plans. Save for a passing reference, there was no word on opening stores in India or the size of the potential investment. Tesco insiders say […]

France’s Auchan plans to set up 60 stores in India: Anand Sharma

France-based Auchan, one of the world’s largest hypermarket chains, has plans to open 60 stores in India, Commerce and Industry Minister Anand Sharma said today. Global chairman of Auchan, Vlanney Mulliez had yesterday called on Sharma. “(Officials of) Auchan group met us yesterday…they want to open 60 stores in India,” he said when asked if […]

Tesco’s Indian takeaway

The group, which already wholesales products to an Indian franchisee, is thought to be planning an Indian store chain under its own name. Chief executive Philip Clarke is understood to have lobbied Prime Minister David Cameron ahead of his trade visit to there this week to encourage New Delhi to relax barriers to foreign investment. […]

TESCO to open Indian subsidiary for farm output and fruits

In a move that could signal entry of the British retail major TESCO into India, TESCO has decided to set up an Indian subsidiary to buy fresh and processed foods from the country for its global stores. This was conveyed by the retail major to the Commerce and Industry Minister Anand Sharma during his meeting […]

Tesco seeks clarification on FDI policy

UK-based retail giant Tesco on Thursday sought clarifications from Commerce and Industry Minister Anand Sharma on some of the conditions that India has imposed while allowing foreign players to open stores in the multi-brand retail sector during their meeting here. “Sharma met Tesco Chairman Richard Broadbent who sought certain clarifications on conditionalities in the new […]

India assures full support to Walmart, Tesco

India today assured global retail giants Walmart and Tesco that it will hand hold them for their entry into the just opened multi-brand retailing in the country.   The assurance was given by Commerce and Industry Minister Anand Sharma to the heads of the two retail giants in separate meetings on the sidelines of the […]

Tesco sets up sourcing arm to buy food from India

Tesco Plc has set up an Indian subsidiary to buy fresh and processed foods from the country for its global stores, in a move that could help the world’s third largest retailer trim costs and develop local expertise before opening shops here. “Fruits, marine, rice would be a few of the things we would be […]