News: Wal-Mart's India entry 'as per guidelines' - Bharti

(PTI 01/12/2006) New Delhi - Facing flak from the Left parties for Wal-Mart's entry into the Indian retail market, Rajan Bharti Mittal, joint managing director of Bharti Enterprises, today said its tie-up with the US firm was "as per guidelines".

"Bharati will manage the front-end 100%, while Wal-Mart will provide support at the back-end, logistics and supply chain. The deal is as per the (government) guidelines," Mittal said on the sidelines of a FICCI function in New Delhi today.

Asked if the deal provided Wal-Mart a back door entry into the Indian retail market, he said it was not the case and Wal-Mart will be doing the same as other global retailers like Germany-based Metro were doing in the country.

Rajan Mittal, however, declined to comment on the reaction of the Left parties to the Bharti, Wal-Mart deal.

Left parties had opposed Wal-Mart's entry into India and alleged that the retail giant's joint venture with Bharti would enable FDI entry into the retail sector through the back door.