Wal-mart entry in India 'as per the guidelines': Bharti
Coming under flak by the Left parties for Wal-mart's entry into the Indian retail market, Bharti Enterprises on Monday said its tie-up with the US firm was "as per the guidelines".
By PTI |
NEW DELHI: Coming under flak by the Left parties for Wal-mart's entry into the Indian retail market, Bharti Enterprises on Monday said its tie-up with the US firm was "as per the guidelines".
"Bharati will manage the front-end 100 per cent, while Wal-mart will provide support at the back-end, logistics and supply chain. The deal is as per the (government) guidelines," said Bharti Enterprises Joint Managing Director Rajan Bharti Mittal on the sidelines of a FICCI function here.
Asked if the deal provided a backdoor entry for Wal-mart in the Indian retail market, he said it was not the case and Wal-mart will be doing the same as other global retailers like the Germany-based Metro was doing in the country.
Mittal, however, declined to comment on the reaction of the Left parties to the Bharti-Wal-mart deal.
Left parties had opposed Wal-Mart's entry into India and alleged that the retail giant's joint venture with Bharti would enable FDI entry into the retail sector through the back door.
"Bharati will manage the front-end 100 per cent, while Wal-mart will provide support at the back-end, logistics and supply chain. The deal is as per the (government) guidelines," said Bharti Enterprises Joint Managing Director Rajan Bharti Mittal on the sidelines of a FICCI function here.
Asked if the deal provided a backdoor entry for Wal-mart in the Indian retail market, he said it was not the case and Wal-mart will be doing the same as other global retailers like the Germany-based Metro was doing in the country.
Mittal, however, declined to comment on the reaction of the Left parties to the Bharti-Wal-mart deal.
Left parties had opposed Wal-Mart's entry into India and alleged that the retail giant's joint venture with Bharti would enable FDI entry into the retail sector through the back door.
Start a SIP with as low as ₹500 with ET Money App!
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
