At present, India has 56,999 fuel outlets. Of those, only 6,276 are owned by private companies
The company reportedly in talks with a dozen firms overseas for an acquisition.
Reliance Industries chairman Mukesh Ambani, equipped with a war chest of an estimated Rs 100,000 crore (Rs 1000 billion), is understood to be on a global hunt for acquiring a retail giant of the size of Wal-Mart or Tesco.
HCL Great Britain is ranked alongside leading ICT companies such as Tesco and Nokia.
The investments include the supply chain, but exclude real estate component.
The New Year could well end up being the year of organised retailers.
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.
Improved investment climate and a more liberal foreign direct investment regime have made India the top destination for global retail giants like Wal-Mart, Benetton and Tesco
The United Progressive Alliance government had opened the multi-brand retail sector for foreign investment and allowed up to 51 per cent foreign direct investment in the sector.
With more than 60 per cent of the country's 109 crore population concentrated in rural areas, companies do not want to miss the growing business opportunity.
Anyone who is 50, or approaching that age (for those wishing to send me a card, May 31 2009 is the date), must feel a pang at the idea that we are over the hill. Mr Mason's logic, picked up by the FT on a tour of Tesco's Fresh & Easy US stores, is that Mr Leahy will be there for some years yet and the board will seek a successor who can stick around for a bit.
Although Walmart-Flipkart wholesale game-plan is to target about a $150 billion market out of a total pie of $700 billion in the country, the consolidation marks the end of the multi-brand dream of the American retail giant.
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.
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Online retail in the country is expected to grow to $200 billion by 2026, up from $15 billion in 2016.
Towards the close of 2013, the finance ministry approved the proposal of UK-based Tesco to invest $110 million in opening up of multi-brand retail stores in the country in partnership with Tata Group firm Trent.
Jaitley evaded vital questions on this issue.
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.
The SAD MP from Bathinda said the alliance will be voted back because it had worked hard for the future of the state on an agenda of "development, development and yet more development".
Industry body CII has asked the governments of Delhi and Rajasthan to reconsider their decisions to scrap the FDI policy for multi-brand retail as such investments would help create millions of jobs and benefit consumers.
UK's largest retailer Tesco, Singapore Airlines and Etihad queued up to invest in India as a persistent UPA threw open more sectors to foreign investments with indications of more big ticket deals to be announced in the new year.
The company has a network of 4,000 distributors, 10,000 stores and 100 mega marts.
Navil Noronha stepped out of the shadows to address the media for the first time during the company's recent IPO.
Perhaps, the group's leadership position and potential in the retail segment prompted Tata Sons Chairman Cyrus Mistry to identify retail as one of the group's four growth clusters in his recent Vision 2025 statement.
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The move is likely to hit Bharti-Walmart, the 50:50 joint venture between the US' Walmart and Sunil Mittal-led Bharti Group that operates cash-and-carry outlets in India, the most.
In a recent interview, Narendra Modi, set to take charge as prime minister in a few days, had said his government wouldn't roll back any policy in the sector.
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.
A letter reversing the decision was sent by Rajasthan Chief Minister Vasundhara Raje to Commerce and Industry Minister Anand Sharma.
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