India’s Bharti Enterprises Pvt., which six months ago ended a tie-up with Wal-Mart Stores Inc., is in talks with France’s Carrefour SA and Japan’s Aeon Co Ltd. for two separate joint ventures, according to one person familiar with the discussions.
Wal-Mart Stores Inc. and Carrefour SA may gain access to the retail market of the world’s second most-populous country after an Indian government panel was said to have recommended easing restrictions on the industry.
Wal-Mart Stores Inc. last year laid out plans to set up retail stores in India. The world’s largest retailer faces a setback to those ambitions after ending a six- year local partnership with billionaire Sunil Mittal.
India’s opening up of foreign investment in retail may see Wal-Mart Stores Inc. be the first to tap the $505 billion market as Carrefour SA and Tesco Plc focus on battling falling profits and consumer spending.