French retail giant Carrefour, whose plans to tie-up with Bharti in India soured last year, is talking to Anil Dhirubhai Ambani Group (ADAG) and the Wadias for a joint venture with one of them.
Sources in the 86-billion Euro Carrefour said, “We are looking for a partner and Anil Ambani group is one of the most serious possibility”.
Carrefour officials are understood to have met Union Commerce and Industry Minister Kamal Nath and some senior Indian officials at the ongoing World Economic Forum summit at Davos, where Anil Ambani is also present.
If the Anil Ambani group’s entry into the retail sector materialises, it would follow the mega retail foray of Mukesh Ambani-promoted Reliance Industries (RIL) last year.
RIL has outlined an investment of Rs 25,000 crore in the business over the next five years.
Carrefour is also looking at the Nusli Wadia Group, the sources said.
The French giant’s US rival Wal-Mart has already joined hands with Bharti to enter India, one of the world’s largest and last lucrative market for organised retailers facing saturation in western markets.
