Bharti Group's retail foray to take shape by Oct
Bharti Enterprises plans to finalise its retail business model this October.
By TNN |
KOLKATA: Bharti Enterprises plans to finalise its retail business model this October. This was indicated here by Bharti Enterprises chairman Sunil Mittal on Friday.
"Currently, Bharti is in talks with all large multinational retail chains keen enter India, including Tesco. Different business possibilities are being explored. A team of experts has been formed for the purpose. They are examining various models and formats that can be adopted. This team will suggest the most appropriate retail model by October," said Mr Mittal.
He was talking reporters on the sidelines of CII's National Council meeting in Kolkata.
It has been widely reported in the media that global retailers like Wal-Mart, Tesco and Carrefour have plans to enter India. "The retail venture will be undertaken by a new company that will be floated," Mr Mittal said.
At the CII proceedings, Mr Mittal urged West Bengal chief minister Buddhadeb Bhattacharjee to elaborate on West Bengal's plans and initiative in the horticulture segment.
Citing Bharti's plans in this light, he said the group was exploring multiple investment opportunities is several states although nothing had been firmed up yet. Bharti has, however, entered contract into farming in Punjab over 5,000 acres of land.
Responding to Mr Mittal's queries, Mr Bhattacharjee said: "We are trying to attract private investment in the horticulture segment. It is an emerging area as the state is the largest producer of vegetables nationally.
We have recently formed a new department of horticulture & food processing, and we found out that some 10-30% of vegetables produced gets destroyed."
"The state needs to improve the market mechanism for such products and also create the infrastructure for preservation of fruits and flowers," he added.
Earlier on the Bharti group's investment plans, Mr Mittal said: "About $2 billion would be invested in various projects in 2006-07, primarily in telecoms."
"Currently, Bharti is in talks with all large multinational retail chains keen enter India, including Tesco. Different business possibilities are being explored. A team of experts has been formed for the purpose. They are examining various models and formats that can be adopted. This team will suggest the most appropriate retail model by October," said Mr Mittal.
He was talking reporters on the sidelines of CII's National Council meeting in Kolkata.
It has been widely reported in the media that global retailers like Wal-Mart, Tesco and Carrefour have plans to enter India. "The retail venture will be undertaken by a new company that will be floated," Mr Mittal said.
At the CII proceedings, Mr Mittal urged West Bengal chief minister Buddhadeb Bhattacharjee to elaborate on West Bengal's plans and initiative in the horticulture segment.
Citing Bharti's plans in this light, he said the group was exploring multiple investment opportunities is several states although nothing had been firmed up yet. Bharti has, however, entered contract into farming in Punjab over 5,000 acres of land.
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Responding to Mr Mittal's queries, Mr Bhattacharjee said: "We are trying to attract private investment in the horticulture segment. It is an emerging area as the state is the largest producer of vegetables nationally.
We have recently formed a new department of horticulture & food processing, and we found out that some 10-30% of vegetables produced gets destroyed."
"The state needs to improve the market mechanism for such products and also create the infrastructure for preservation of fruits and flowers," he added.
Earlier on the Bharti group's investment plans, Mr Mittal said: "About $2 billion would be invested in various projects in 2006-07, primarily in telecoms."
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