The second and third biggest retailers of the world, France-based Carrefour and the UK-based Tesco respectively, are in the last lap of finalising their tie up arrangements with local partners in India, according to Kamal Nath- the Union Minister of Commerce and Industries. He revealed this while speaking to Shireen Bhan of CNBC TV18.
He, however, skirted a question relating to Tesco’s imminent tie-up with Tatas. Tesco, it may be recalled, was earlier snubbed by Bharti, for a possible retail tie-up for its foray into India. Similarly, Carrefour, has also withdrawn from talks with the Dubai-based Lifestyle for a possible India related retail tie-up.
Only a day ago, ministry sources, it may be recalled, had confirmed that there was legally nothing wrong with the Bharti’s tie-up, announced earlier in November, 2006, with the world’s biggest retailer Wal-Mart.
On being queried about the status of Starbucks’ pending proposal, he said that the matter would be sorted out soon, as there were no insurmountable difficulties in clearing the proposal.