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Forbes reports that Tesco "has applied to open a supermarket chain in India," which would take the form of a $110 million investment in a 50/50 joint venture with Tata's Trent Hypermarkets there.

India is a $490 billion retail market that some estimate will grow to more than $800 billion over the next decade. India's laws now allow for up to 51 percent foreign investment in multi-brand retail, though the complexity of the regulations have put off a number of global retailers.

The Tesco application comes just days after Walmart got the go-ahead in India to acquire from Bharti the almost 50-percent stake in their joint wholesale venture there. The joint venture originally was set up weigh an eye toward Walmart being able to have retail interests in India, where laws current prohibit foreign investments in retailing. When the regulatory situation did not change to Walmart's liking, the two companies decided to separate their interests.
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