TESCO looks to India; in talks with Bharati for a JV

tescologo TESCO, the UK’s biggest retailer with an impressive 13% of the UK’s shopping spend share, having annual turnover of US$ 74.6 billion, and already occupying more than 60 million sft of selling space worldwide (33 mn sft of which is overseas), is in advance talks with India’s telecom moghul Sunil Bharati Mittal over a potential joint venture to corner a part of estimated US$ 235 billion grocery market in India. Details of its expansion plans could come on Tuesday when directors are due to announce their usual profits spectacular with trading figures for the half-year to the end of August reports FreshPlaza.

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