<p>UK-based retailer Tesco's decision to apply for opening multi-brand retail stores in India in partnership with the Tata's has been based on business considerations and not driven by any "external pressure".<br /><br /></p>.<p>"Since the FDI policy was liberalised, we have reviewed various possibilities and the current proposal is an outcome of these reviews," Tesco CEO Asia Trevor Masters said in a statement.<br /><br />Tesco Plc became the first global retailer to seek the government's approval to set up multi-brand outlets in India with a plan to invest USD 110 million in partnership with the Tata's Trent.<br /><br />It has sought permission to acquire 50 per cent in Trent's wholly-owned subsidiary Trent Hypermarket Ltd, that runs Star Bazaar stores.<br /><br />Masters further said: "Our decision to progress the applications has been based on business considerations and not driven by any external pressure".<br /><br />He said that the company is working with Tata Group in India for over five years, supporting the development of their Star Bazaar stores.<br /><br />"We have always said we'd like to get more involved in this exciting market," he added.<br />In its super market stores, Tesco will sell 14 categories of products.<br /><br /> The items to be sold at its stores include tea, coffee, vegetables, fruits, meat, fish, dairy products, wine, liquor, textiles, footwear, furniture, electronics and jewellery.<br /><br />This is the first application for multi-brand retailing since the government allowed 51 per cent foreign direct investment in the segment in September last year. <br /><br />It comes two months after Wal-Mart Stores and Bharti Enterprises said they would go their separate ways for retail operations in India.<br /><br />Tesco proposes to operate stores in India under various banners, including Star Bazaar, Star Daily and Star Market, with the tag line reading, 'A Tata and Tesco Enterprise.'</p>
<p>UK-based retailer Tesco's decision to apply for opening multi-brand retail stores in India in partnership with the Tata's has been based on business considerations and not driven by any "external pressure".<br /><br /></p>.<p>"Since the FDI policy was liberalised, we have reviewed various possibilities and the current proposal is an outcome of these reviews," Tesco CEO Asia Trevor Masters said in a statement.<br /><br />Tesco Plc became the first global retailer to seek the government's approval to set up multi-brand outlets in India with a plan to invest USD 110 million in partnership with the Tata's Trent.<br /><br />It has sought permission to acquire 50 per cent in Trent's wholly-owned subsidiary Trent Hypermarket Ltd, that runs Star Bazaar stores.<br /><br />Masters further said: "Our decision to progress the applications has been based on business considerations and not driven by any external pressure".<br /><br />He said that the company is working with Tata Group in India for over five years, supporting the development of their Star Bazaar stores.<br /><br />"We have always said we'd like to get more involved in this exciting market," he added.<br />In its super market stores, Tesco will sell 14 categories of products.<br /><br /> The items to be sold at its stores include tea, coffee, vegetables, fruits, meat, fish, dairy products, wine, liquor, textiles, footwear, furniture, electronics and jewellery.<br /><br />This is the first application for multi-brand retailing since the government allowed 51 per cent foreign direct investment in the segment in September last year. <br /><br />It comes two months after Wal-Mart Stores and Bharti Enterprises said they would go their separate ways for retail operations in India.<br /><br />Tesco proposes to operate stores in India under various banners, including Star Bazaar, Star Daily and Star Market, with the tag line reading, 'A Tata and Tesco Enterprise.'</p>