It is understood that B&Q's plans to enter India are not imminent, but it is researching the market ahead of a possible entry. Speaking at the World Retail Congress in Barcelona, B&Q Asia chief executive Steve Gilman said: 'We started to do some work in India.'
Under Indian foreign direct investment rules, multi-brand western retailers have to partner with a local company to open stores. Gilman said that B&Q would adopt a similar partnership model to the one that it has used to open 58 stores in China. 'If and when we do enter India, we would look for an Indian partner,' said Gilman.
He added: 'India is a difficult market and having a strong local partner that understands local issues, such as the property market and the diverse behaviour of consumers, is essential.'
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