Ad Here  
Business Briefs World labour laws at a glance Hero Motocorp - smooth ride Downsizing spree... An American alliance in the chemical industry? Curbing steel imports will hurt small business... Need to focus on ease of doing business... Dynamic e-commerce scenario Inclusive and forward moving... Nigeria comes nearer Chennai to get a roundabout Metro Blue Star plans a new plant in south Hyundai excites again Economic issues take a back seat at G20 summit Strategy war escalates between Hero and Honda Illicit markets a concern to growing economy Creating Tamil Nadu Banana brand Smart controls for cooling large multi-zone spaces ... Tata Steel commence operations at Kalinganagar ALL to launch electric busses When Centre visits the state People Flow Day- Safety A global plastic event in India Is Indian telecom industry heading for a monopoly? Industry-well poised to invest on expansion Techies trip to India Towards peace of mind TN budget pragmatic and moderate on fiscal deficit Business Breif STFC raises money ISRO's 100th mission Airlines wage price war WABCO’s second Chennai plant SumInfra- corridor based development... Holiday Inn opens in OMR Chennai Changing dynamics in human resource management ALL-two launches in a row AirAsia India infuses funds to fight out competition Celebrating 180 years of relevance Apple maps – finding its way TVS Logistics – another acquisition to sharpen the business model CUB: towards card-less withdrawal Secured NCDs from Shriram City ALL – truck industry is recovering from degrowth Veritas Finance- financing the unfinanced On the ‘milky’ way Housing Innovation Challenge, 2015 Indian Bank – global businesses crosses Rs 3 lakh crore... - Striking cords for 25 years… Big-ticket investments march towards Punjab Automotive Vision Plan II... Innovation that helped Chennai port Ridley marathon to India An aerospace-defence cluster in Tamil Nadu… Realising double digit growth in Tamil Nadu LVB gears to become a financial supermarket Durga - India’s largest blast furnace; now operational Economic, business and social sustainability Three more leather clusters… Connecting the unconnected Climate change may change the way businesses work... Adding Zest to Scooty Investor friendly Japan Time to fast-pace the logistics sector Pharma market dozes Backpack laboratory Applauding enterprise... Steel loses its sheen OBO Bettermann for better lightning protection Four daughters and a proud father Realty sector takes a break... TOP 10 CEO Compensation Well-refined – RIL’s refinery margins zoom Auto test tracks launched at GARC Oragadam campus Chola MS launches motor app The new look- 4s Verna Focus on self-certification and third party inspection TII’s single largest investment at Thiruthani Waste, a gold mine Indigo stays leader with 40 per cent share Sun Edison launches solar pumps European crisis is a global crisis! Chennai Port is at last decongested! TII-challenging year with flat growth Nothing to hide... Bridging the skill deficit in pharma industry Make way for the new and dynamic railways Carrefour’s quick exit TCS’ revenues cross Rs 100,000 crore Schwing Stetter India joins hands with US-based Gomaco BRICS development bank Digital retail transactions stabilise at higher level… Brand leaders come forward... IFCI to raise NCDs upto Rs 2000 crore Placing the right shoe forward... Chennai will soon get its World Trade Centre TiE applauds innovative entrepreneurs ECGC expands operations Flexible labour laws… Reality bytes Celebration time at MS Chola More gensets and diesel engines from TAFE Rating of states to be released soon Murugappa- a year of consolidation Research needs more funding Gem of social service... Scoot offers just Rs.13,500 to ANZ... Purdue and IIT-M sign the dotted line Chola MS net crosses 100 crores
Carrefour’s quick exit

The start of the Modi era has seen the exit of a potential multi-brand retailer, Carrefour, from India. Dominating the Europe retail market, Carrefour, made its India entry in December 2010, opening its first cash-and-carry store in Delhi, with initial plans to open 15 such stores by 2011. The French company had announced in July 2014, the decision to close all of its five stores (Delhi, Jaipur, Bangalore, Agra and Meerut) in three months.

As part of Carrefour’s Chief Executive, George Plassat’s three-year plan to part with loss making investments, the company now wants to focus on its domestic hold, Europe, where it has nearly 9000 stores. The company began its exit sessions since 2012 from countries like Singapore, Indonesia and Malaysia. India is this season’s pick.

In 2010, the Indian retail industry was valued at $500bn. The exit move of the world’s second largest retailer comes at a time when the retail industry of India is on the verge of crossing the $1tn mark. Though the reason stated for the exit is ‘internal,’ the Indian regulations on FDI in retail could as well have triggered it.

Author :
Reported On :
Sector :
Shoulder :
IE, the business magazine from south was launched in 1968 and pioneered business journalism in south. Through the 45 years IE has been focusing on well-presented and well-researched articles. When giants in the industry stumbled to keep pace with the digital revolution, IE stayed affixed embracing technology.
Read more
Economist Communications Ltd is committed to ensuring that your privacy is protected.
Read more
You agree that your use of this Website and the purchase of the magazine will be governed by these terms and conditions.
Read more
S-15, Industrial Estate,
Chennai - 600 032.
PHONE: +91 44 22501236