In order to grab a share in the billion dollar worth of Indian retail industry, French supermarket giant, Carrefour has announced that it will very soon open its wholesale store in India.
It is expected that the store will become operational by November this and when that happens another foreign brand name will join the list of many others that have come to India.
Carrefour is the second-largest warehouse in the world and follows Walmart which is already in the country.
Talking to AFP, the spokesperson of Carrefour, Franck Kenner said, “We plan to open a cash-and-carry store (in New Delhi) by November.”
Three of the biggest names in world retail industry- Carrefour, Wal-Mart and Britain’s Tesco are trying hard to get the necessary nod from the government to be able to open their own fully-owned stores without any Indian operator with them.
Indian regulations currently make it mandatory for foreign companies to open stores along with Indian companies. This has been done with an aim to protect local companies.
Most of the foreign groups are running their wholesale stores in India.