Bharti-Wal-Mart tie up as per govt policy
Amid the controversy over its tie-up with Wal-Mart, Bharti Group on Monday insisted their retail venture was "no different" from such businesses floated by other Indian companies such as Reliance and it fully complied with government norms.
By PTI |
NEW DELHI: Amid the controversy over its tie-up with Wal-Mart, Bharti Group on Monday insisted their retail venture was "no different" from such businesses floated by other Indian companies such as Reliance and it fully complied with government norms.
"We are no different from other Indian companies which have ventured into retail. Birlas, Tatas, Reliance and the Future Group have done it," Bharti Enterprises Joint Managing Director Rajan Bharti Mittal said here.
Asked if the company was asked by the government to explain on its tie up with Wal-Mart, Mittal said, "Yes, we were asked and we have given them all details. We are absolutely in line with the policy and guidelines announced by the government."
On the issue of using the Wal-Mart brand on its front-end stores, Mittal said as per the current guidelines it was allowed to do so.
"The guidelines do not speak otherwise. You have Dominos, Pizza Huts which are operating under their brands in India," he said, adding "we are conducting a consumer survey and depending on the outcome we will take a decision (on the branding)".
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There have been reports that Bharti may not use the Wal-Mart brand on its front-end stores keeping into consideration political oppositions.UPA ally Left parties have been against the entry of the US retail giant, saying it would wipe out the neighbourhood stores and leave millions jobless.
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