LONDON (AP) -- Tesco PLC, the world's No. 3 retailer, is entering India with a wholesale cash-and-carry business, the supermarket group announced Tuesday.Tesco plans to invest up to 60 million pounds ($114 million) over the next two years to establish itself in the fast-emerging economy, whose population of 1.1 billion people is the second-largest in the world.
The wholesale outlets, which will be based only in Mumbai initially, will sell fresh food, grocery and certain nonfood products to small retailers, restaurants and what are known locally as "kirana stores" -- mom-and-pop markets.
At the same time, Tesco is partnering with giant Indian conglomerate Tata Group, the company said Tuesday.
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