According to Reuters reports, the French retail giant Carrefour said in July 7th in India, because of poor market performance, the company plans to shut down before the end of 9 of 5 wholesale cash and carry store in India and withdraw from the India wholesale market, with focus on the French mainland business.

In recent months, Carrefour has been with the India local retailers and strategic investors to sell assets in India for negotiations, but it is unclear whether the Carrefour have found buyers. Carrefour has revealed further details.

By the end of 2010, Carrefour opened its first wholesale supermarket in India, and formally entered the India market. Although in 2012 the India government announced the approval of foreign supermarkets into India $fifty million retail industry, foreign retailers think India retail regulations for corporate compliance manufacturing difficulty, these requirements include mandatory 30% local procurement and the state itself to decide whether to allow foreign holdings of domestic retail enterprises have opened a new branch in.

In May, India's newly elected president, Narendra - Modi (Narendra Modi) against foreign retailers to enter the India market, fear of endangering the small local retailers and may lead to the rise in unemployment. So far, only the British retail giant Tesco announced it will invest in India.

Chief executive Plaza Te (Georges Plassat) said, the revitalization of Western Europe, Chinese and Brazil business to obtain funds, in recent years, Carrefour has been committed to the adjustment of the global layout and withdraw from the edge of the market. In recent years, Carrefour withdrew from the Greek, Columbia, Singapore and Malaysia and other markets.