Big UK retailers looking for local partners in India – Feedback

Several big retailers in the UK including Tesco, Sainsbury’s, Marks & Spencer, Partridges and Waitrose are keen to enter the food retail business in partnership with local players, food processing minister Harsimrat Kaur Badal has said.

“Tesco wants to tie up with big giant retailer or someone who has been in the business,” Badal said on Tuesday. “The other players like Harrods, Partridges, Simply Food and Marks & Spencer, who want to come in the niche, quality market, are looking at different sort of players,” she said at a conference on foreign direct investment (FDI) in marketing of food products and promotion of exports organised jointly by industry body CII and the ministry of food processing. While India recently allowed 100% FDI in retail of food products manufactured within the country, Badal said most foreign retailers would prefer to have a local partner as they would have to change their business model in the country because globally they sell other things besides food.

http://economictimes.indiatimes.com/industry/services/retail/big-uk-retailers-looking-for-local-partners-in-india-says-harsimrat-kaur-badal/articleshow/54313890.cms

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