Wal-Mart In Talks With Reliance Industries

US retail giant Wal-Mart is in talks with Mukesh Ambani owned Reliance Industries Ltd (RIL) for its India foray. The move has raised eye brows as RIL could well be a future competitor to the US giant as it is giving finishing touches to its own retail juggernaut.

According to sources, Wal-Mart is interested in partnering RIL in the area of logistics - which means sourcing items such as fresh fruits and vegetables, besides their transportation to the length and breadth of the country.  RIL is readying a 40-plane air cargo fleet for its own logistical needs.

Wal-Mart is also believed to have approached other large industrial houses, despite the stringent foreign direct investment (FDI) norms. The companies that Wal-Mart is in talks with include vehicle maker Mahindra & Mahindra and Sunil Mittal’s Bharti Group.

Wal-Mart is trying to establish itself in India in a big way as evident from its discussions with big business houses. The company has believed to be snaring real estate major DLF as a franchisee.