Carrefour plans Indian expansion
French retailer Carrefour plans to boost its presence in India as foreign rivals suspend their expansion in the country due to lack of clarity in foreign investment rules.
Carrefour plans to more than double its store network in India by opening up to 10 new stores in locations including Bangalore, Haryana, Maharastra and West Bengal.
“They are already looking at multiple options… as soon as they are able to get the right sites they will work on the construction,” a source who declined to be named told local media.
The company, which entered India four years ago, currently operates four cash-and-carry stores in Delhi, Jaipur, Meerut and Agra.
Carrefour’s planned expansion in the country comes at a time when US retail giant Walmart has threatened to suspends expansion in India until the government creates a “fool-proof compliance mechanism”.
However, Carrefour will face competition with local retailer Reliance Retail which plans to open 20 additional cash- and-carry stores under Reliance Market banner.