The world's second-largest retailer, Carrefour, has restarted its talks with Kishore Biyani-led Future Group as part of its India plans.
The French retailer, which was scouting a partner here to set up multi-brand retail stores, was at final stages of talks with Future Group almost three years ago but had put the discussions on hold due to lack of clarity on investment norms.
However, sources say that after approaching other players, Carrefour has again started talking to the Future Group as it is “emboldened by Tesco's plans to start a joint venture here”.
“Carrefour was in talks with the Future Group almost three years ago that is when they were waiting for a policy and once that happened, they wanted more amendments. Now, they are in a wait and watch mode because of elections,” said a source familiar with Carrefour's plans.
“At this point of time we will not be able to comment on anything,” a Carrefour spokesperson said in response to a detailed email query. A commerce ministry official said that company officials are expected to meet the minister early next year.