Tesco's Indian investment
Tesco is set to invest £80 million in a joint venture in India with the Tata Group.
Published
The supermarket chain, which has developed a wholesale business in India, is seeking permission from the Indian Government to take a 50% stake in Trent Hypermarket, an arm of Tata.
Trent currently runs 16 stores in India under the names Star Bazaar, Star Daily and Star Market, and plans to open three to five a year offering dry grocery products, fresh produce, clothes, shoes, household items, books and magazines.
The government has previously prevented any direct foreign investment in multi-brand retail in India but decided last year to allow partial foreign ownership of supermarkets and department stores. Tesco is the first to dip a toe in to the market.
