Tesco may be close to India deal

The Business Standard reported that Tesco will announce by October 10th if they have a deal with Indian conglomerate Bharti to become the first foreign grocery chain to enter the Indian market.

Although Indian law has been liberalized, Tesco still could not enter the country directly, it would be acting with Bharti as a franchisee.

"Planning is underway and a team is carrying out extensive research and is testing various models," Bharti chairman and managing director Sunil Mittal told the Business Standard daily newspaper.