Friday, April 27, 2007

Carrefour postpones India plans

French retailer Carrefour announced that it has postponed it’s plans to open stores in India, due to “rising political opposition” for the entry of international retailers. According to Carrefour India head, Gerard Freiszmuth, “We will not be in a position to announce any concrete India entry plan till policy issues on FDI in retail are made clear.” Carrefour is also waiting to hear the decisions on the Wal-Mart-Bharti deal and will decide it's future in the country accordingly. The company is also awaiting for the results of the ICRIER study on the impact of large retailers, international and domestic companies, on the local mom-and-pop retailers.

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