Initital conversations taking place for move into lucrative retail market
After Gerry Murphy described Kingfisher's interest in India as a 'medium-term' prospect, it has emerged that the UK home improvement group is planning a move into the country's $280bn-a-year (£152bn) retail sector.
Press reports suggest Kingfisher has started research into the market and held initial talks with the Indian government over its proposed timetable for relaxing restrictions on foreign direct investment in India's retail industry.
The reports come a month after Steve Gilman, who oversees Kingfisher's Asian operations, asked India's commerce and industry minister, about a likely date to allow multi-brand retailers to launch their own operations in India.
If Kingfisher gets the go-ahead, the move would expand its Asian division, which includes stores in Taiwan and South Korea.