Reliance Industries Ltd.

Reliance Retail, a subsidiary of Reliance Industries (RIL) and Bharti Enterprises, are reportedly in talks to buy India assets of the world’s second largest retailer Carrefour that has decided to exit the country by closing its five cash and carry stores. The availability of ready-made cash and carry stores and associated infrastructure is drawing interest of the two leading Indian entities.

Moreover, the closure of Carrefour’s business in India will be effective at the end of September 2014. Carrefour is said to be exiting India operations to focus on its key markets in western Europe, China and Brazil.

Reliance Retail (RRL) has grown into an organisation that caters to millions of customers, thousands of farmers and vendors. Based on its core growth strategy of backward integration, RRL has made rapid progress towards building an entire value chain starting from the farmers to the end consumers.