News: Bharti's retail model to be finalised by October
(TNN 23/09/2006) Kolkata - Bharti Enterprises plans to finalise its retail business model this October, Bharti Enterprises chairman Sunil Mittal indicated on Friday.
“Currently, Bharti is in talks with all large multinational retail chains keen to enter India, including Tesco. Different business possibilities are being explored. A team of experts has been formed for the purpose.
They are examining various models and formats that can be adopted. This team will suggest the most appropriate retail model by October,” said Mr Mittal.
He was talking reporters on the sidelines of CII’s National Council meeting in Kolkata. It has been widely reported in the media that global retailers like Wal-Mart, Tesco and Carrefour have plans to enter India. “The retail venture will be undertaken by a new company that will be floated,” Mr Mittal said.
Regarding Bharti’s plans in the West Bengal region, he said, the group was exploring multiple investment opportunities in several states, although nothing had been firmed up yet.
Bharti has, however, entered contract into farming in Punjab over 5,000 acres of land. Mr Mittal also said: “About $2bn will be invested in various projects in ’06-07, primarily in telecom.”
“Currently, Bharti is in talks with all large multinational retail chains keen to enter India, including Tesco. Different business possibilities are being explored. A team of experts has been formed for the purpose.
They are examining various models and formats that can be adopted. This team will suggest the most appropriate retail model by October,” said Mr Mittal.
He was talking reporters on the sidelines of CII’s National Council meeting in Kolkata. It has been widely reported in the media that global retailers like Wal-Mart, Tesco and Carrefour have plans to enter India. “The retail venture will be undertaken by a new company that will be floated,” Mr Mittal said.
Regarding Bharti’s plans in the West Bengal region, he said, the group was exploring multiple investment opportunities in several states, although nothing had been firmed up yet.
Bharti has, however, entered contract into farming in Punjab over 5,000 acres of land. Mr Mittal also said: “About $2bn will be invested in various projects in ’06-07, primarily in telecom.”
posted by InCar Group Press Room at 12:26
0 Comments:
Post a Comment
<< Home