NEW DELHI: Bharti Enterprises, which tied up with Wal-Mart to start a nationwide chain of retail stores, said it will invest about 7.0 bn dollars in the project by 2010, a report said Tuesday.
The group, which owns the country's top private phone firm, said it will set up 200 large stores and hundreds of smaller ones to cater to the increasingly affluent Indian middle class, estimated to be made up of 300 million people.
"Depending on what we do in real estate and logistics, we will invest around seven billion dollars by 2010," Sunil Mittal, chairman of the group, is reported to have said.
The group's realty company will seek to identify property for the venture, from which Mittal expects to earn one to two billion dollars in the same period.
Last month the group tied up with Wal-Mart, the world's largest retailer, to open stores that would be owned by Bharti and run under a Wal-Mart franchise.
Source : DNA
The group, which owns the country's top private phone firm, said it will set up 200 large stores and hundreds of smaller ones to cater to the increasingly affluent Indian middle class, estimated to be made up of 300 million people.
"Depending on what we do in real estate and logistics, we will invest around seven billion dollars by 2010," Sunil Mittal, chairman of the group, is reported to have said.
The group's realty company will seek to identify property for the venture, from which Mittal expects to earn one to two billion dollars in the same period.
Last month the group tied up with Wal-Mart, the world's largest retailer, to open stores that would be owned by Bharti and run under a Wal-Mart franchise.
Source : DNA