Mumbai: Carrefour, the world''''s second-biggest retailer, plans to set up a wholesale business in India on it own after failing to get local partners, reports quoting unidentified sources said.
The French firm plans to focus on cash-and-carry model as it did not want to depend on "whims and fancies." This would also ward off opposition from political parties and groups, the report said.
Carrefour was going ahead with a wholly owned subsidiary and had begun recruitment at senior levels, the report added.
Foreign multiple-brand retailers are limited to cash-and-carry and franchise or licence operations in India.