Wal-Mart tie up as per the guidelines: Bharati

Rajan_MittalTelecom major, Bharati Enterprises, which recently entered into a tie-up with the world’s biggest retailer Wal-Mart for cash and carry as well as back-end operations has clarified that its alliance with the US firm was “as per the guidelines.”

“Bharati will manage the front-end 100%, while Wal-mart will provide back-end, logistics and supply chain support.” “The deal is as per the guidelines,” said Rajan Bharti Mittal, joint managing director, Bharti Enterprises, who according to grapvine is expected to head the Bharati’s retail business.

Repudiating the charge that Wal-Mart is entering the Indian retail sector through a back door, Mittal explained that Wal-mart will be doing, what other major global retailer Metro AG of Germany is already doing in India.

It may be recalled that the Left parties have opposed Wal-Mart’s entry into India, who have alleged that the retail giant’s joint venture with Bharti would enable FDI entry into the retail sector through the back door.

Source: PTI

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