Morning:
14°c
Carrefour to join Tesco in India
15.04.09
France's Carrefour, the world's second-largest retailer, today said it planned to open its first cash-and-carry outlet in India in late 2009 or early next year.
Ahead of the launch of its first outlet, planned for Delhi, Carrefour said it was finalising sourcing arrangements with suppliers of food and non-food items.
"Every market we enter, we work closely with local producers, farmers, agricultural co-operatives and manufacturers... this concentration on domestic sourcing allows us to make valuable contribution to the development of the local economy," Managing Director of Carrefour India, Herve Clec'h said in a statement.
Multi-brand foreign retailers such as Carrefour are restricted to franchise or license operations in India.
Wal-Mart, the world's largest retailer, and other foreign firms such as Britain's Tesco and Germany's Metro AG have already started operations in India.
