Mult-brand retailer Carrefour will open its first cash-and-carry store in India by late 2009 or early 2010, the French company said on Wednesday.
Carrefour, the wold's second largest retailer, will launch its first outlet in India in New Delhi and is in talks with suppliers for finalising sourcing arrangements.
The company today said it held meetings with over 600 suppliers of food and non-food articles.
Carrefour India managing director Herve Clec'h said the meet was aimed at both building relations and opening business opportunities for suppliers in the company's global sourcing network.
"This meeting had three objectives: to introduce Carrefour Group and its project in India, to return on the concept of the cash-and-carry store and to present the working specifications and the mode of collaboration with suppliers," the company said in a statement.
"Every market we enter, we work closely with local producers, farmers, agricultural cooperatives and manufacturers. In most Carrefour stores, around 90 per cent of the sold items are locally sourced. This concentration on domestic sourcing allows us to make valuable contribution to the development of the local economy," Clec'h said.
The company, which has 15,000 stores in 33 countries across the world, would open its first cash-and-carry outlet in the Delhi NCR region, Carrefour added.
The company had earlier, planned to form a joint venture company to operate its Indian business.