Tesco could beat Wal-Mart into India

CHESHUNT, England — Britain’s Tesco has filed application to open a supermarket chain in India, under regulations introduced last year to ease restrictions on foreign ownership. The firm will invest $110 million Tata Group’s Trent Hypermarkets with a view to spinning off a multi-brand joint venture. Other major retailers have hesitated to penetrate India’s still-complex web of regulations. Wal-Mart bought out its joint venture with Bharti Group, but has named an Indian CEO, signalling its future intentions for the market, according to a Forbes report.