Magazines Archives - 2008 January

BHARTI RETAIL, the retail division of Indian business conglomerate Bharti Enterprises, has announced that it will open its first store in northern India by this March, and commence its cash-and carry business with Wal-Mart by the third quarter of the year.

The company said it has started employing professionals to manage the various formats and intends to hire about 16,000 employees over the next four years. In light of recent protests, the company added it would only “go to friendly states”.

With the Indian retail market slated to increase from 5% of the US$280-billion pie to 30% in the next 10 years, according to a study released by the FICCI-Ernst & Young, organised retail in the country looks set to grow from US$14 billion to US$30 billion by 2010.

Said chairman and managing director of Bharti Group Sunil Mittal: “Other formats will also be opened to take care of consumer demand” elsewhere in the country.

The group also stated it would start with convenience-store formats, before venturing into supermarket and hypermarket operations.