The group, according to one media interview, had had discussions with around 50 Indian business houses, including Bharti Enterprises, Reliance Industries, AV Birla Group and Wadia Group. The French retail chain also appointed three designated heads to find a partner and begin operations in India at the same time.
In fact, almost a year ago, commerce and industry minister Kamal Nath had informed the international media that Carrefour was close to announcing a partnership with the Wadia group. However, no such deal has happened as yet.
"It is important for any retailer to carefully study the local market before deciding to enter a new country," said Herve Clech, managing director, Carrefour India.
Carrefour appointed Jean-Christophe Goarin as its first designated CEO in 2002 to start retail operations in India. After two years of market evaluation, Carrefour dropped its India plan and Jean moved out of the retail firm to set up GOA Consulting, a retail and consumer consultancy firm in Delhi.
"Management control and stake increase
