Companies

Apr 11: Bharti's India deal with Wal-Mart 'tip of the iceberg'

Apr 11: Rajan Bharti Mittal, managing director of Bharti Retail, the Indian conglomerate, says his new store chain could hit sales of $10bn within five years. He tells Beth Rigby, FT consumer industries editor, that Wal-Mart, the world's biggest retailer, will provide logistical support for the new range of neighbourhood stores, supermarkets and hypermarkets. He says the new moden chain will "co-exist with" rather than displace India's "mama and papa" stores. The interview took place at the World Retail Congress in Barcelona.