Tesco CEO Philip Clarke to meet Anand Sharma today

NEW DELHI: Philip Clarke, chief executive of UK retailer Tesco, will meet commerce and industry minister Anand Sharma on Friday to seek clarity on the various conditions for global supermarket chains to invest in India. Clarke, who is specially flying to New Delhi to meet Sharma, will be accompanied by Tata International MD Noel Tata, a person in the know of the development said.

India last year opened up its multi-brand retail to global players with a number of riders, including a commitment to invest at least $100 million upfront with 50% of it going into logistical infrastructure in the first three years and sourcing at least 30% of goods to be sold in their outlets from local small enterprises.

Earlier this week, Sharma told ET that global supermarkets seeking to invest in India must pledge to make fresh $50 million investment in back-end infrastructure and not acquire existing supply chain and logistics of existing Indian companies. These are the some points Clarke wants to clarify from the minister, the person quoted earlier said. Tesco has an understanding with the Tata Group and is currently providing technical expertise and merchandises for Tata's Star Bazaar hypermarket chain.

Late last year, its chairman Sir Richard Braodbent had also sought clarity on various conditions in the FDI policy.