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Home>News>Tesco Makes Foray into Indian Market |
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Tesco Makes Foray into Indian Market
With its plans to open three cash-and-carry business outlets in India, Tesco, Britain's largest supermarket chain, is all set to make its foray into the Indian market. On its way to business tie-up with Tata Group, this UK based company intends to invest around £60 million in India over the next two years.
The plans are afloat for opening business centers in Mumbai, Delhi and Bangalore and the first outlet would be ready in Mumbai by the end of 2008. These outlets, sourcing their products from Indian market will mainly cater to small Indian retailers, restaurants, stores and other small sector businesses. For the Star Bazaar hypermarket business expansion, Tesco will be working hand in hand with Trent, the retail arm of Tata Group.
After its debut into the US market last year, this is seen as a major step by Tesco to promote its business in Asia. Tesco wants to launch a consumer retail offering in India but for Indian rules on foreign investment which deter any multi brand retailer to do so. Presently Tesco has offices in Delhi, Bangalore and Tirupur which source more than £170 million worth of Indian products.
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