Retail norms for FDI from 23rd july

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India may soon open the doors of multi-brand retail to global chains such as Walmart and Carrefour. A Committee of Secretaries is slated to meet next week to finalise the amount of FDI in the sector and set conditions to protect local grocers. The committee is also likely to lay down stringent norms for back-end…

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Walmart in Chhattisgarh – Raipur

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Bharti Walmart Private Limited, the joint venture between Bharti Enterprises and Walmart Stores Inc for wholesale, business-to-business, cash-and-carry and back-end supply chain management operations in India, today opened its first Best Price Modern Wholesale cash and-carry store in Chhattisgarh in Raipur. Mr. Raj Jain, Managing Director and CEO Bharti Walmart inaugurated the store. The Best…

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India to open multi brand retail to foreigners

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India’s Trade and Industry Minister said on Friday that talks to open up the country’s multi-brand retail sector to foreign investors were at an advanced stage, but he did not give a deadline. “We are very seriously engaged,” Anand Sharma told Reuters in an interview in Kuala Lumpur. “It is receiving attention of the government…

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Vishal Retail finally finds suitors

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Debt-laden Delhi-based Vishal Retail will sell its retail trading business to Shriram Group of Chennai and the wholesale business, institutional sales and franchise operation to a private equity company, ‘TPG Capital’, with the combined deal totaling to Rs1 billion. Pertaining to this, the board of retail group has decided to conduct a postal ballot, to…

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Wal-Mart Small Stores, Job Shop

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RECESSION OVER: It may not feel like it is over but the recession ended more than a year ago. That is according to an independent group of economists known as the National Bureau of Economic Research. Based on their analysis, our 18-month economic downturn officially ended in June of 2009. That makes this recession the…

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Carrefour to open first unit in India soon

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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…

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