Tesco seals Indian deal for ￡85million

For example, currently, 4,00,000 Indian users do their rail bookings online." Apart from convenience, the other thing is to slowly revive products that were on the brink of collapse.
Rohit Kanthale is an example of this.Owner of the Shree Balaji Collection that specialises in Banarasi silk sarees, Kathale and others like him went through a bad phase, which even saw predictions as to the end of this sari.But today thanks to e-tailing, Kanthale who only makes Banarasi silk saris, says he has been able to turn around his business."Ten years ago people would buy the cheaper synthetic saris decrying silk saris as more expensive. Today, the same people are seeing my silk saris as a coveted brand."Britain's biggest retailer formally struck an agreement with Tata offshoot Trent, four months after getting approval from the Indian Foreign Investment Promotion Board,

It will see Tesco b e a 50:50 partner in Trent Hypermarket, operating 12 stores under the Star Bazaar and Star Daily banners in the southern and western regions of the country, selling groceries, personal care, home and kitchenware products and clothes.The long-awaited deal is subject to final regulatory approval.It marks a key breakthrough in the liberalisation of India's retail laws which have in the past acted as a barrier to foreign investment.Rival global supermarkets have so far failed to make inroads in the country, though clothes retailers including Britain's Marks & Spencer and Sweden's H&M have a presence there.

Under the original plan the joint venture included 16 shops, but in four cases plans were blocked because of state objections to foreign investment.It's great news for Indian customers and in time will be great for our business Tesco has had a wholesale supply and franchise agreement to supply merchandise and technical know-how to support Trent Hypermarket since 2008.Chief executive Philip Clarke said: "I am delighted to build on the great relationship we have with the Tata Group by forming this partnership in India. It's great news for Indian customers and in time will be great for our business."Tata Group is better known in the UK as the owner of Jaguar Land Rover, the former Corus steel business and Tetley tea.