Carrefour to open first India store in Parsvnath mall

Parsvnath Developers said today French retailer Carrefour will open its first cash-and-carry store in India at one of the realtor's New Delhi malls.

Parsvnath Developers said on Thursday French retailer Carrefour will open its first cash-and-carry store in India at one of the realtor's New Delhi malls.

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In September, a Carrefour executive said its first store in India will have a surface area of 5,000 square metres.

India's $450 billion retail sector is largely closed to foreign firms and favours small stores, which provide livelihoods for hundreds of thousands and serve a market of more than 1 billion. Multi-brand retail is restricted to cash-and-carry or wholesale outlets.