Government approved a proposal from Tesco Overseas Investment Ltd (Tesco), a UK company, for foreign investment of not less than USD 110 million to carry out business of multi-brand retail trading in India.

Always Seek Knowledge:

• Tesco was the first global retailer to apply for multi-brand retailing after the government allowed 51 per cent FDI in the segment in September 2012.
• The FDI inflow reported by the RBI from Tesco is Rs 850 crore.
• In March last year, Tesco had announced formation of an equal joint venture with Tata groupcompany Trent by picking up 50 per cent stake in Trent Hypermarket Ltd (THL). 

• About Tesco
  • Tesco is a British multinational grocery and general merchandise retailer headquartered in Cheshunt, Hertfordshire, England, United Kingdom.
  • It is the third largest retailer in the world measured by profits and second by its revenues.
  • Tesco was founded in 1919 by Jack Cohen as a group of market stalls.
  • Tesco is listed on the London Stock Exchange and is a constituent of the FTSE 100 Index.