New Delhi; Reliance Retail will on Monday bring to the National Capital Region the food retail revolution it unleashed last year, even as foreign giants like Wal-Mart are raring to tap one of the world’s biggest markets.
With an over Rs 8,000 crore investment blueprint for the region, the company hopes to give people a taste of shopping in western-style convenience stores, which would be stocked with vegetables, fruits, groceries and dairy products.
While people in Hyderabad, Jaipur and Chennai are no strangers to these stores, christened ‘Reliance Fresh´, those in Ghaziabad, Faridabad, Gurgaon and Noida would get to sample it from Monday when nine such stores are thrown open.
The entry into NCR comes ahead of plans of rival Bharti- Wal-Mart combine to open hundreds of retail stores.
While Indian regulations bar Wal-Mart from operating on its own, the world’s largest retailer under the joint venture would manage the back-end of the retail operations and Bharti the front-end.
French retailer Carrefour is also in talks with Anil Dhirubhai Ambani Group as also the Wadias for a tie-up with one of them.
However, Reliance Retail has decided to go it alone and the Reliance Fresh brand of stores is the first of the several format stores it plans to launch in the days ahead.
Mukesh Ambani’s Reliance has lined up Rs 25,000 crore in investments over the next five years for its retail business, of which it intends to spend Rs 8,000 crore in the national capital region, informed sources said.
Reliance spokesperson, however, declined to comment on the details of their plans for NCR.
The company would open 400 to 600 stores in the region covering 50 million square feet of retail space, sources said.