High realty prices to deter retail growth: Mittal

Sunil Bharti Mittal, chairman, Bharti Enterprises, today said rising real estate prices could hamper the growth of organised retail industry in the country.

"The rising real estate prices are a matter of concern for the retail sector," Mittal told reporters on the sidelines of a CII function here.

Bharti Enterprises has announced join ventures with US giant Wal-Mart for its retail foray.

"Our first store will open next year, and the work on hiring and training people has started," Mittal said.

Bharti has announced that it would have two ventures with Wal-Mart - one for the franchise arrangement and the other for cash-and-carry business.