The government will initiate fresh action against Walmart if an ongoing 'foreign corrupt practices' probe by US authorities reveals any violation in India by the global retail giant.
Online play is a priority now -- so far unthinkable in a business that's all about a meaningful interface with kirana stores.
A leading Brazilian poultry company has also expressed keen interest in joining hands with Kishore Biyani's Future Group to sell their products in the country
The CBI, in its letter, said the matter was 'analysed' by the agency and it 'revealed violations of RBI guidelines and FEMA regulations'.
After supermarket giant Walmart, it is online retail major Amazon which has begun lobbying with the US lawmakers to seek their support for facilitating its "foreign direct investment in India".
Bentonville-based Walmart has also raised apprehensions about the ongoing probe by investigating agency Enforcement Directorate, said an internal note of the Department of Industrial Policy and Promotion.
Walmart is waiting to understand as to how much multibrand retail might or might not move forward.
Reliance Retail and Bharti Enterprises are understood to be in talks to buy India assets of the world's second largest retailer Carrefour that has decided to exit the country by closing its five stores.
Bharti Retail will issue one equity share of Rs 2 each for every share of Rs 2 held in Future Retail
Four new retailers from US, two from Germany may have shown interest in setting up shop in India.
Cash-&-carry chains claim of the products they sell 85-90% is local.
Walmart is happy with its current partnership with Bharti.
The retailer has registered a new company called 'Wal-Mart India Private Ltd' in the country, according to the data available with the Ministry of Corporate Affairs.
Future, which recently tied up with Amazon in India to sell its fashion and food products exclusively on the American giant's marketplace platform, is looking at a gross merchandise value of about Rs 6,000 crore (Rs 60 billion) in the next three years from the venture.
Cash-and-carry stores try tricks, from playing Bollywood music to customising orders, to retain customers.
Bharti Enterprises has had a joint venture with Walmart in the wholesale trade for years in India.
While the investment amount could not be immediately ascertained, a report pegged it at about $2 billion.
Decision-making is stretched because of differences in views between ministries.
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.
Believes companies would come to India eventually.
Retailers present in India are in talks with Carrefour to buy its assets piecemeal, rather than the whole business.
RIL had earlier decided not to pursue the cash-and-carry model due to a number of reasons, including a growing unrest towards organised retail.
Global retail behemoths seem to have read the signals right.
Deciding to focus on the cash-and-carry segment in India, retail giant Wal-Mart plans to open 50 wholesale stores in the next four to five years to expand its footprint in the country.
Wal-Mart's "suspected bribery" unearthed in India involves thousands of small payments to low-level local officials.
Did top Indian business groups miss the e-commerce opportunity by focusing on replicating the Walmart model instead of following the Amazon model of online shopping?
Zomato has the potential to be an equally important milestone for Indian equity markets, notes Akash Prakash.
The company's search for a partner in India seems to be grounded once again
Since allowing FDI in multi-brand retail has been left to the states, Indian companies may not benefit as foreign investors are wary of the politics.
The Indian government has simplified FDI policy inorder to attract global retail chains.
The stipulation that new front-end stores will have to be set up will impact M&A in the sector.
The government is considering to tweak FDI policy in retail sector so as to allow global chains like Walmart, Carrefour and Tesco to open multi-brand stores in non-hilly cities with population less than one million.
Asking the government to tweak FDI norms in multi-brand segment, retailers said sourcing rules must be made similar to that of single brand while demanding foreign firms be allowed to put only 50 per cent of first tranche of investment in back-end infrastructure.
Before leaving on a 10-day foreign visit starting Monday, Sharma said he would address concerns of foreign retail sector investors and ensure help in setting up stores.
Not just Tesco, Auchan, Walmart, even Biyani & Reliance keen on food FDI: Harsimrat Kaur Badal
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