GENERAL MERCHANDISE NEWS
Bharti close to deal with outside retail partner
20 November, 2006 | by Retail Bulletin
Speculation that Wal-Mart may pip Tesco to the post.
Local media reports suggested that a deal had been finalised with Wal-Mart, but a spokesman for the Bharti group said the deal had not yet been concluded “We continue to be in talks with all the global majors,” .
Bharti Chairman Sunil Mittal said in October that a deal was likely by the end of November.
The Indian retail industry is worth about $300 billion, and is set to grow to $427 billion in 2010 and $637 billion in 2015.
