Tesco is the world’s third largest retailer and the UK’s biggest, and have recently signed a deal agreeing to a joint venture with Trent Hypermarket Limited (THL), a unit of India’s Tata Group which runs the country’s Star Baazaar chain, making Tesco the first foreign supermarket to enter India’s £330bn retail sector.
The supermarket will invest around £85m in the deal, which is a 50-50 split, following Indian government approval. Under this deal, THL will operate 12 supermarkets, working under the Star Bazaar and Star Daily banners in southern and western regions of India. Tesco has had an agreement to supply both merchandise and technical support to THL since 2008.
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