Source: BBC
Tesco’s plans for expansion into India have been approved by the country’s government.
The British retail giant intends to invest $110m (£68m) in India’s closely-protected retail sector.
It will set up a chain of supermarkets in partnership with the Indian Tata Group.
Tesco is the first global food retailer to get approval to invest in India since the government decided to open up the supermarket sector last year.
India’s Foreign Investment Promotion Board (FIPB) also approved a proposal by the British telecoms group, Vodafone, to take full ownership of its Indian business.
However, this deal will need to go through several stages before it is complete.
Categories: Asia, Business, Business/Marketing, Demographics, India