When British retailer Marks and Spencer Group Plc. started looking outside the UK to expand, it saw its biggest opportunity in India, ahead of China. The firm decided it had to go beyond having franchisee stores in India, and inked a £29 million (Rs230 crore) joint venture with Reliance Retail Ltd on 18 April to set up 50 stores in the country over the next five years.
Mint
http://www.livemint.com/2008/04/23235814/
8216The-biggest-opportuniti.html
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