The BJP, which won a landslide victory in the Lok Sabha elections last week, has welcomed foreign direct investment (FDI), but not in retail. India had allowed FDI in multi-brand retail in 2012 with stiff riders.
Almost all exit polls conducted in the country have predicted that the BJP-led National Democratic Alliance will emerge winners when the Lok Sabha elections.
Currently, Bharti is trying to build its own supply chain for Easyday stores and is slated to introduce its own private brand called Easy Max in the coming months.
Talk of Aeon’s interest in Bharti reviving came amid a visit by a team of executives from the Japanese company last weekend to Bharti Retail’s office.
Jean Noel Bironneau on Friday quashed media reports that the world’s second largest retailer is planning to exit India.
Following on the heels of Flipkart, popular online retailer Myntra has come under Enforcement Directorate’s scanner for possible violation of FDI norms.
Industry insiders say fashion retailers are now working hard on managing their inventory to avoid such a fate this year.
The arrangement will help the German luxury pen maker introduce new writing instruments in India.
ED probe is for period before April 2013, when Flipkart shifted to marketplace model, converting into a platform for independent buyers and sellers.
Walmart Stores spent $334 mn to end its deal with Bharti Enterprises, resulting in a net loss of $151 mn
Bharti-Walmart alliance turned rocky in last two years as the US firm focused attention on an internal probe to check violation of anti-bribery laws.
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