Biz discussions still on with Wal-Mart: Bharti

Bharti Enterprises, which has tied-up with Wal-Mart, on Friday said discussions are on over business arrangement with the US firm for their retail venture. "We are still discussing... We will come back to you with details at an appropriate time," Bharti Enterprises Joint Managing Director Rajan Bharti Mittal said after emerging from a meeting with Wal-Mart Vice Chairman Mike Duke this morning here. Mittal declined to comment on the details of the meeting, while Duke was whisked away from the media.
According to sources, Duke, who arrived in India on Thursday is likely meet a series of top government officials on Friday to get a clear picture of policy guidelines in the retail sector.
Duke's visit is aimed at getting a first-hand knowledge of the market and no announcement regarding specific plans would be made during this visit, a Wal-Mart spokesperson had said on Thursday. Wal-Mart said it was discussing with Bharti in the wholesale segment and exploring the possibility of investing in back-end linkages. The retail chain giant said it was looking forward to partnering with Bharti to build cash and carry back-end linkages with farmers and suppliers through a robust and efficient supply chain and was conducting business studies concerning the feasibility of investing in establishing backward linkages with suppliers and farmers.
courtesy:economictime
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