Retailer Carrefour of France will open its first “cash-and-carry” wholesale store in India later this year. Real estate company, Parsvnath Developers, announced that the store will be located at one of its malls located in the National Capital Region of New Delhi.
American retailer Walmart already has a small number of such wholesale stores in the northern state of Punjab. Foreign companies are currently restricted from owning “multi-brand” retail stores in India. India’s domestic retail chains enjoyed serious growth in 2010 and there is an increasing belief that the government will slowly open up the market for foreign companies as well.