Enthused by Tesco’s plan to enter the Indian supermarket segment, the Indian government expects another European major to apply for the multi-brand retail sector.
"In multi-brand retail trading, the first (application) has come. There will be more and I think another European major will come," Commerce and Industry Minister Anand Sharma said in New Delhi. He, however, did not share the details of the possible applicant.
Last week, UK-based Tesco Plc became the first global retailer to seek government’s approval to set up multi-brand outlets in India with a plan to invest USD110 million in partnership with Tata’s Trent.
(Source: Business Standard )