Indian retailer Future Group, together with joint venture partner Fung Capital of Hong Kong, will open its first cash and carry store in India in September.

The store will be called World Market and is intended to replicate Dragon Mart of Dubai and Yiwu of China.

The cash and carry store in Bangalore will be about 1 million sqft.

“Work is on to get both the real estate and the back-end ready soon. The World Market will have 400-500 sqft shops which traders can own and run,” said a source with direct knowledge of the development.

“The idea is to provide a one-stop distribution channel for all shopkeepers’ needs in a transparent and modern retail set-up unlike the cramped wholesale markets that exist now.”

Fung Capital, the private equity investment arm of the families of Victor and William Fung, owns 26 per cent stake in the joint venture, with Biyani holding the remaining stake.