Bharti retail venture delayed, might join Wal-Mart

NDTV.com reports that Bharti Enterprises anticipated deal with Tesco might not be happening after all and according to sources, the company is likely to join up with Wal-Mart. The company has traditionally set up its own stores everywhere it goes but is likely to follow the joint venture route to gain access to the Indian market. Wal-Mart already has its strategy in place, and plans to focus on small cities and metros, opening 12-18 stores in the first year and a half. The size of the stores will not be more than 140,000 sq ft.

Bharti has 5700 acres in Punjab and will package and export to EU, Southeast Asia, the Gulf and Central Asia within the next few months.

For Wal Mart, India may be its wildcard because it has withdrawn from South Korea and now left with presence only in one other Asian country that's China.