An 80-member strong Indian delegation from the Confederation of Indian Industry will participate in the World Economic Forum's Annual Meeting in Davos, Switzerland, from 23-27 January 2008.
PwC is the auditor of Satyam Computer Services whose founder Ramalinga raju earlier this month admitted to financial irregularities of about Rs 7,800 crore (Rs 78-billion). The newly-inducted board of the company later hired two foreign audit firms -- KPMG and Deloitte Touche Tohmatsu -- to restate the accounts books.
While Wal-Mart is facing delay in the rollout of its retail plan, Carrefour SA, the world's second-largest retail chain, is still struggling to finalise its Indian partner even after six years of persistent search.
With confidence creeping back into the market place and rentals down up to 50 per cent, large retailers are back to drawing up aggressive growth plans. In the next one year, Aditya Birla Retail, Bharti Enterprises, Reliance Retail, Trent, Mahindra Retail and others hope to open new stores spread over five million square feet.
Shravin Mittal's venture capital firm, Unbound Advisors, has made investments worth over $500 million so far
Big retail is fine tuning its strategy to win over critics and corporate social responsibility drives are providing it with the means.ITC and Reliance have already launched projects to recruit street hawkers, the main adversaries of big retail. And now Bharti Mittal has opened a retail innings of its chain, Easy Day, in Ludhiana with something similar.
The delegation held meetings with the state department and the White House, besides meeting the US corporate leadership, policy makers and think tanks. Prominent among those the delegation met included Jim Steinberg, the Deputy Secretary of State at the Foggy Bottom headquarters of state department.
On receiving the award at a glittering function, Mittal said: "This is a tremendous honour and I would like to thank the GSM Association for considering me worthy of this award."
Reliance Industries, Tata Chemicals, Bharti Enterprises' Fieldfresh and Indian Oil are among several large companies that have evinced interest in leasing closed sugar mills that the Bihar government is offering, mainly to exploit opportunities to make ethanol to meet mandatory petrol blending norms that were introduced this year.
Eighteen months hence, Reliance Retail is a 600-store chain, while Wal-Mart, which had planned to start operations by the year-end, has deferred the launch to 2009.
Wal-Mart defers launch of its first Indian store
Bharti and Wal-Mart JV will be critical for the US giant to study the Indian scenario.
Bharti Wal-Mart, a joint venture between Bharti Enterprises and US-based retail giant Wal-Mart stores, on Friday said it will commence its wholesale cash and carry operations by early next year from the northern region.
A CII delegation, led by Confederation of Indian Industry president and Bharti Enterprises CEO Sunil Bharti Mittal, called on US Democratic presidential candidate Senator Hillary Rodham Clinton at the Capitol Hill in Washington, DC on Wednesday.
Indian football received a shot in the arm on Friday with Bharti Enterprises announcing that it would spend Rs.1 billion to improve the sport at the grassroots level. The plan includes opening a world-class academy.
The sale proceeds will be fully utilised to repay debt at Bharti Telecom and will make the promoter holding firm a 'debt free company'.
In an interview with the Financial Times last week, Jos Luis Duran, Carrefour's chief executive, said he was poised to sign a retail joint venture in India.
Bharti Telesoft, a supplier of value added services platforms to wireline and wireless carriers, has been ranked as one of the country's fast growing 50 technology companies by Deloitte Technology.
Bharti Retail, owned by Sunil Mittal's Bharti Enterprises, on Wednesday started retail operations in the country with neighbourhood store format, Easy Day, from Ludhiana in Punjab. Bharti has set up three stores in Ludhiana.Bharti has announced plans to invest Rs 10,000 crore (Rs 100 billion) to set up stores across the country by 2012. The company said that it is looking at a retail space of 10 million square feet and employ 60,000 people.
Bharti Airtel, India's leading private telecom service provider, is keen to acquire a player similar in size to South African giant MTN in the emerging markets to become a global brand, said Akhil Gupta, deputy group CEO and managing director of Bharti Enterprises.
Bharti Airtel, India's leading private telecom service provider, is keen to acquire a player similar in size to South African giant MTN in the emerging markets to become a global brand, said Akhil Gupta, deputy group CEO and managing director of Bharti Enterprises.
The company feels that it has the first mover advantage and is now gearing up to face the competition by consolidating its presence through rapid expansion.
N R Narayana Murthy, chief mentor of Infosys Technologies, on Friday supported the joint venture between Bharti Enterprises and Wal-Mart saying the Indian partner would benefit from the world's largest retail chain's expertise and technology.
The Bharti Group will on Monday announce a tie-up with Walmart for its retail operations, under which the world's largest retailer would manage the back end operations.
Tesco, which has sought the government's permission to buy 50 per cent stake in Tatas-owned Trent Hypermarket Ltd, will have to invest atleast $55 million in creation of fresh back-end infrastructure.
Tesco and Tatas have reached "a crucial stage in the negotiations, which have advanced considerably over the recent past
Wal-Mart has a joint venture with Bharti Enterprises for a cash-and-carry(wholesale) venture in India. There are no regulatory restrictions on using the Wal-Mart brand in this business, but the company cannot have its brand name on front-end (retail level) stores that sell direct to consumers.
Joint venture will enable it to get foot in the door of rapidly growing market.
Tesco has admitted that its plan to be the first multinational supermarket retailer in India has unravelled.
Global retail major Wal-Mart's entry into India through an alliance with Bharti Enterprises could change the market dynamics, but domestic player Pantaloon Retail India Ltd appears game to take on the competition.
At present, the US-based retail giant operates B2B e-commerce platform in four cities -- Lucknow, Hyderabad, Guntur and Vijayawada -- in the country.
Bharti Group, which has joined hands with industry leader Wal-Mart for a foray into
In a letter dated November 30, the PMO asked the commerce ministry to prepare a detailed note on the venture, in the anticipation that it would come up for discussion in Parliament.
What is Wal-Mart? When was it set up? Who owns it? Read on to find out.
The stake, which is valued at Rs 8,200 crore at the company's current market capitalisation, will be sold by one of the group companies of Bharti Enterprises.
Bharti Enterprises will kick off its retail venture early next year, opening half-a-dozen stores -- branding of which is still being worked out with its back-end partner Wal-Mart.
Bonanza for customers in days of liberalisation.
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