外文标题：Retail giant Carrefour to exit India, shut down 5 stores
NEW DELHI: French retailer Carrefour on Monday announced its exit from India, months after the ruling BJP made it clear that it was opposed to allowing foreign players to operate multi-brand retail stores.
"Carrefour today announced its intention to close its five cash-and-carry stores in India, where Carrefour has operated since 2010. The closure of Carrefour's business in India will be effective at the end of September 2014. Until that time, the company will continue to be fully engaged with all its employees, suppliers, partners and customers to ensure a smooth transition," the company said in a statement on its website late Monday evening.
On May 3, TOI had first reported that the world's second largest retailer had started work on an exit plan after talks to sell its stores to Sunil Mittal's Bharti group failed and the French company saw little hope of the government allowing foreign chains to set up multi-brand outlets in India.
With BJP unrelenting on allowing foreign chains to set up shop, global giants such as Wal-Mart have parted ways with Bharti to focus only on wholesale cash-and-carry and sell to kirana stores, restaurants and canteens.
Tesco, which has partnered with the Tata Group, is the sole retailer that has gone to the extent of receiving government permission to set up multi-brand stores in India.
In my experience people of this country has right to get lower price if these retailers can give us. The middle man in commodities are so cunning, I have agriculture background and I know how we sell vegetables at price X and it is sold at 600 to 800 %.
Gov must give training to local retailers in business, how to be a world class retailer! Our fellow Indians are not knowledgable enough...
Mani Menon (Chennai)
Do we really need all these foreign retail giants? Can't modern India survive on her own without them?
Good News! corporates are buying our Netas and policies are made to suite them. Let them out.
Local retailers are strong enough.we do not need foreign stores/=.
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Any killing of compititiveness cannot be good for the country.Had protectionism been good Cuba would have been the most developed country.
Braj Kishore (INDIA)
Carrefour is same as big bazaar or Vishal megamart. So, India does not need this.
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Bye, bye Carrefour! Now, it's time for the Indians to up the ante of our business empire.
Smart move. This is not a good time to enter India because India is still a poor country with lots of poor people. Maybe 20 years from now would be a better choice.
nan ksn (Unknown)
If the pro working class communist country like China can embrace super markets like Metro, Walmart, Carrefour ..etc for decades now and they are flourishing , do not understand why our govt opposes their entry..Seems to be short sighted political decision..!!
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Crap Karela (delhi)
Similarly all BPO business should exit from India and Indian IT company's should stop oversea's business.
Abhineet Vyas (Hyderabad)
INDUS Murthy (INDUS)
Good move , we newd to promote local home grown industries, newd to get FDI where its really required
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Kevin (Location) replies to INDUS Murthy
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aaaaaa (Location) replies to INDUS Murthy
True. We have our Reliance, Tata, Birla. atleast these are our companies who employ us and keep profit in india
Denny Crane (Unknown)
Well done - every time a right wing hindu party comes to power, all the international players are forced to exit - history is just repeating itself. Sad day for India.
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aaaaaa Kumar (Location) replies to Denny Crane
We have our Reliance, Tata, Birla. atleast these are our companies who employ us and keep profit in india
pranksterindia (India) replies to aaaaaa Kumar
well ofcourse there are indian companies but the pay in terms of salary is less.
Though these people are exiting from India blaming on the policy but the real reason is that the business was never profitable for them in last few years. They could not plan a turnaround and were looking for a respectful exit. They got it in the name of BJP's retail policy.
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robustkumar Sharma (Delhi)