Munjals join retail bandwagon

Business Standard reports that the $3.2 billion Munjal owned Hero Group will be entering the retail sector and is looking for an international joint venture partner. According to Pawan Munjal, managing director of Hero Honda, the company is entering organized retail in India, even though there is tough competition. He added that, “Retail, which is likely to emerge as a major sector in the Indian market, is one of the core areas of our future growth strategy.”

The Hero Group has also started a company called Aero Infrastructure Ltd which will be focusing on developing institutional infrastructure in India, and has identified real estate development such as residential complexes, shopping malls, community complexes and hospitals as the major areas that it will be entering.