Mahindra to enter into retail

Published by admin on October 11th, 2007 | Tagged Business

Mahindra & Mahindra’s subsidiary Mahindra Intertrade is going to enter the retail business.Looking at the $350 billion retail market in India,this seems to be the right move by Mahindra.

This is what NDTV says:

In a statement to NDTV, Raghunath Murti, Executive Vice Chairman of Mahindra Intertrade said “Mahindra has a reasonably large trading business housed in one of its companies, Mahindra Intertrade. The group believes this is the opportune time to enter and extend its distribution business into direct retailing, when the organised retail market is expanding in India. As it is a natural extension of the group’s existing business.”

I agree with fact that the retail business can be very profitable as so many leading names like bharti and reliance have shown keen interest in this sector.