Tesco Slows Down India Expansion Moves

UK retailer Tesco is expected to slow down its expansion moves in India, following the company's record-setting annual loss of $9 billion. Although the company exited several markets, including the United States and Japan, Tesco is unlikely to leave India. In 2014, Tesco announced a $110 million investment in the country. It was the first foreign-owned company to enter India's multi-brand retail sector after the government had allowed non-Indian retailers to invest 51 percent in the market. French retailer Carrefour recently left India, ending its wholesale business after its supermarket business plans failed.