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Tesco likely to locate first outlet in Mumbai
27 January 2010: Tesco is likely to open its first cash-and-carry outlet in India by the end-December 2010. The location of this outlet is likely to be Mumbai.
India is the only country where Tesco will have a cash-and-carry model as 100 per cent FDI is allowed only in the wholesale business. Incidentally, Tesco has a franchisee agreement with Trent, the Tata Group, to support the latter's hypermarket retail operations.
Tesco will leverage the support of Tesco HSC for its India operations in the cash-and-carry business.
Source: Hindu Business Line