The world's largest retailer has teamed up with India's Bharti Enterprises Ltd. — a business conglomerate focused mostly on telecommunications — to set up hundreds of stores across the country, said Sunil Bharti Mittal, chairman and CEO of the Indian company. In recent years, several large Indian companies have diversified into retail business.
Reliance Industries Ltd., has already lined up billion of dollars to invest in a retail chain that would also showcase large superstores like Wal-Mart. The company opened its first retail outlet "FRESH" in the southern Indian city of Hyderabad in November 2006.
Rising middle class incomes and an increase in demand for branded products, however, make India a compelling destination for global retail companies.
What will happen to crores of small retailers in India? Has the government thought of this?
Danger for small retailers for sure.
Reliance Industries Ltd., has already lined up billion of dollars to invest in a retail chain that would also showcase large superstores like Wal-Mart. The company opened its first retail outlet "FRESH" in the southern Indian city of Hyderabad in November 2006.
Rising middle class incomes and an increase in demand for branded products, however, make India a compelling destination for global retail companies.
What will happen to crores of small retailers in India? Has the government thought of this?
Danger for small retailers for sure.