Carrefour, the world’s largest retailer after Walmart, is learnt to be rationalising its expansion plans in India, prompted by a worsening global economy, particularly in Europe.
Pune was a major destination the France-based chain was looking at for its cash and carry (wholesale) operations, but that’s now on the backburner, according to two sources. Some of the other store openings it had planned in the country for 2012 might also get delayed, they said.
The retailer was busy finalising 10 to 12 real estate lease deals across India around the end of 2011 for its new stores. After launching its second store in Jaipur at end-2011, Carrefour was targeting Pune, Meerut and Agra next. It had also begun the hiring process for its planned outlets, including for Pune. Six months later, much of the hiring has been put on hold, though many of the land deals have been done.
(Source: Business Standard )