It has been waiting in line with other global retailers like Carrefour and TESCO to tap the growing and lucrative Indian market.
India on Friday moved closer to a major economic reform, with a committee of secretaries (CoS) giving an approval in principle for allowing up to 51 per cent foreign direct investment in multi-brand retail.
Commerce and Industry Minister Anand Sharma has asked global retail chains not to rush the government into allowing foreign direct investment (FDI) in multi-brand retail.
Auchan and another French retailer, Carrefour, exited India in 2014
Executives in the segment say some top European, Japanese and Korean retailers are seriously interested.
The Bharti Group, promoted by the Mittal family, had searched high and low for a foreign partner when it wanted to start its cash
Indian retailers put cash & carry on backburner
Retailers have learnt the costly lesson that stores must be opened where they can get a regular loyal customer base, and not necessarily in prominent locations which create hype and footfalls but no commensurate purchases.
As an increase in FDI in retail is being opposed, local retailers have a thriving year.
When French Retailer Carrefour enters the Rs 1,200 crore (Rs 12 billion) cash and carry segment in 2009, it would face tough competition from established players such as Germany's Metro, Bharti-Wal Mart, Reliance, Pantaloon, Wadhawan Retail and others entrants like Tesco and Costco.
At least 35 per cent, or $400 billion worth of goods, that are sourced from China could shift to countries such as India, Thailand, Vietnam among others over the next 10 years, according to a study by US-based retail and supply chain solutions firm DCB and Company. India is expected to take the lion's share of volume shift compared to its counterparts in the region, the study says, due to its IT prowess, infrastructure and agents network.
India's burgeoning middle class is proving an enticing target for European retailers. France's Gautier and Carrefour detail plans to set up operations, and Marks & Spencer is reported to be on the move as well.
Sector specific magazine, Retail Week, has named India's HyperCITY as the country's top retail store in its report on '100 Shops You Must Visit.'
Several bilateral economic agreements were expected to be signed on Thursday.
The investments include the supply chain, but exclude real estate component.
The New Year could well end up being the year of organised retailers.
Amid the noise around multinational retail chains queuing up to enter India comes a calming revelation. According to management consultancy firm A T Kearney, not all retail biggies continue in the new markets that they enter.
The US retailer hopes to triple its sourcing from India by 2010 and touch the $1 billion mark. The retailer has been running a sourcing operation, Target Sourcing Services/AMC, in India since 1975.
From convincing film-makers to do shows for online, to having a slate with some of the best films and shows, Amazon Prime Video has come a long way since it came to India four years ago.
Four separate explosions in southern Thailand, including one at an international airport, have left 2 dead and over 80 injured.
Walmart, the world's largest retailer, is hoping to get more than 30,000 consumers through its e-commerce pilot project that will be launched in the first week of July.
Stores are also coming up with novel methods to get Brazilians to pull the trigger on new TV sets, with many offering major discounts.
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.
For now Walmart has said it remains optimistic about India. But that could change without prior notice, says Nivedita Mookerji.
It entered India in 2006, with the aim of tapping the promising consumer market.
The latest cash-and-carry or wholesale outlet, for selling products from grocery to apparel and consumer electronics to businesses, offices and organisations, is coming up in Agra by the middle of 2015, it is learnt.
Why Danone, Philips, and to an extent Nestl and P&G remain under stress in India is a subject perhaps worthy of a business school case study, says Shailesh Dobhal.
Not just Tesco, Auchan, Walmart, even Biyani & Reliance keen on food FDI: Harsimrat Kaur Badal
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.
Walmart acquired Bharti's 50 per cent stake in the wholesale joint venture.
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.
Cash-&-carry chains claim of the products they sell 85-90% is local.
While global competitors Amazon and Walmart are looking to explore B2B online in India, traditional Indian retailers like the Future group and Reliance Retail and e-commerce players such as Snapdeal and Flipkart have no immediate plans in this area.
Four new retailers from US, two from Germany may have shown interest in setting up shop in India.
The stipulation that new front-end stores will have to be set up will impact M&A in the sector.
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.
Global retail behemoths seem to have read the signals right.
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