Tesco awaits clarity on India’s retail FDI norms

Oct 11 2013, 04:48 IST
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SummaryUK's leading retailer Tesco is awaiting clarity on India's policy on FDI in multi-brand retail before drawing up its plans for the country.

UK's leading retailer Tesco is awaiting clarity on India's policy on FDI in multi-brand retail before drawing up its plans for the country.

World's largest retailer Walmart on Wednesday split its six-year old partnership with Bharti Enterprises, apparently unable to comply with the FDI norms for multi-brand.

A Tesco spokesperson said, "We are excited about the India opportunity and await policy clarity before we can take further decisions on the matter". The company, which has a partnership with Tata group firm Trent, did not elaborate on the type of clarity it has sought from the government.

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