Who will be first into India?

IGD says that Wal-Mart will be the first big foreign retailer to enter the fast-growing Indian market, if/when the government allows entry (which this article says will happen soon.

If this happens, IGD believes that Wal-Mart will be the first to make a move with its hypermarket format. If the government drags its heels, however, Wal-Mart is likely to get a head start on its rivals by establishing a cash & carry operation in the unrestricted wholesale sector. Tesco is unlikely to enter India in the short term, while it concentrates on other key markets like the US and China, and Carrefour is currently focused on optimising the performance of its existing portfolio.

A contrary opinion is expressed by The Economic Times:

It reported that the UK supermarket chain is close to finalising a joint venture agreement with Indian firm Bharti Enterprises. The joint venture will focus on selling fresh foods, groceries and other convenience foods.

According to Indian law, Tesco will be prohibited from owning any stake in the company. However, sources said there would be a profit-sharing agreement and the door would be left open for Tesco to pick up a stake when the foreign direct investment laws change.