Carrefour Invests Rs.160 cr to spruce up wholesale business, in talks for possible retail JV.

Carrefour SA, the world's second largest retailer, infused Rs. 160 crore into its wholly-owned cash-and-carry business in India last month, just a day before British rival Tesco Plc filed its proposal to invest $110 million, or about Rs. 677 crore, in a supermarket joint venture with the Tata Group.

Some people familiar with Carrefour's India plans said the French retailer has also initiated talks with an Indian retail group for a possible entry into the multi-brand retail sector where it can sell directly to customers.

Carrefour WC&C India Pvt. Ltd., which runs five wholesale stores in the country, has already invested Rs. 300 crore in opening stores and creating allied back-end infrastructure for the business, according to its latest filing to the Registrar of Companies (RoC).

ET