Tesco plans to open in India; to meet govt officals soon

Even as the government is probing allegations of lobbying by Walmart to facilitate its entry into India, global supermarket giant Tesco is making preparations to set up shop in the lucrative multi-brand retail segment in India, reports CNBC-TV18.

Top management of UK-based Tesco along with executives from the Tata group will soon be meeting commerce minister Anand Sharma for more clarity on the FDI policy in multi-brand retail. Sharma recently  met Tesco chairman Richard Broadbent at Davos and CEO Phillip Clarke in London and had asked them to submit their queries to the DIPP in writing. Tesco already has a presence in the in the cash-and-carry business in India.

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