Tesco to invest $110m to step up Indian presence

Tesco has applied to take a 50 per cent stake in Tata Group’s Trent Hypermarket in India as it bids to become the first foreign supermarket to enter the country. According to Retail Week, Tesco has made an application to India’s Foreign Investment Promotion Board to support its existing Star Bazaar operation, which is franchised by Tesco to Trent.