Tesco says meeting with Anand Sharma on retail policy reassuring

MUMBAI Fri May 10, 2013 1:43pm IST

Trolleys are stacked outside a Tesco store in Hammersmith, west London October 3, 2012. REUTERS/Paul Hackett/Files

Trolleys are stacked outside a Tesco store in Hammersmith, west London October 3, 2012.

Credit: Reuters/Paul Hackett/Files

Related Topics

Stocks

   

MUMBAI (Reuters) - Tesco Plc's (TSCO.L) chief executive said on Friday that a meeting with India's Trade Minister Anand Sharma on the country's retail policy had been reassuring, even as Britain's biggest retailer awaits clarifications on foreign investment.

Foreign retailers have been awaiting more clarity on the issues of mandatory sourcing from the country and investment in backend infrastructure after India opened its $500 billion retail sector to foreign supermarkets in September last year.

"I think it was important today that we heard from the minister about some of the small concerns we have. There'll be important points of clarification in the months ahead, Chief Executive Philip Clarke told reporters.

"We're very pleased with the meeting. Reassured. And now we need the important points of clarification and then you'll be hearing more from us."

Tesco has business ties with Tata Group owned Trent's (TREN.NS) Star Bazaar hypermarket chain.

(Reporting by Matthias Williams; Editing by Edwina Gibbs)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Economic Pulse

REUTERS SHOWCASE

NSEL Fraud

NSEL Fraud

Govt orders Financial Tech to absorb NSEL, liabilities  Full Article 

Stalemate

Stalemate

WTO prepares for crisis talks as India keeps veto on global deal.  Full Article 

Deal Talk

Deal Talk

Smartphone repair company B2X steps up expansion with Indian deal.  Full Article 

Earnings Season

Earnings Season

HDFC Bank eyes pickup in corporate credit.  Full Article 

JLR China

JLR China

JLR sees 20 percent growth in China sales this year - exec  Full Article 

Iron Ore Imports

Iron Ore Imports

JSW Steel to boost iron ore imports by up to 80 percent.  Full Article 

Pollution Levels

Pollution Levels

Delhi braces for worst air quality this Diwali week.  Full Article 

Remembering Margerie

Remembering Margerie

Total’s "Big Moustache"- bon vivant, deal-maker and risk-taker .  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage