India has got its first foreign investor for the country’s multi-brand retail sector with Tesco bringing the first set of FDI investment after having completed the 50:50 JV with Tata’s Trent Limited. The JV, Trent Hypermarket Limited (THL) runs Star Bazaar retail stores in India.
Currently, THL operates 12 outlets in the country retailing categories like fashion and accessories, food and grocery, home and kitchen, and personal and home care products.
The Tesco-Trent joint venture recently got a nod from the CCI. Acording to a leading daily, before approaching CCI, Trent Hypermarket moved fourof its outlets in Gujarat and Tamil Nadu to its subsidiary Fiora Hypermarket in order to comply with the FDI rules.