UK: Bookers plans Indian expansion
The chain has three stores in Maharashtra the chain is now looking to expand outside the state. It could open as many as 20 stores over the next 5 years.
The company has denied any interest in setting up multi-brand retail stores even when the Indian government allows foreign direct investment (FDI) in the sector. "We are a pure wholesaler. That is our model in the UK, and the same concept will be adapted here. We will support the local independent retailers and not compete with them," a representative of the company said.
Cash and carry represents an opportunity worth $140 billion (Rs 7 lakh crore) of the $500-billion (Rs 25 lakh crore) annual retail business in India.
Source: www.business-standard.com
