India’s consumption story, combined with the country’s rapid growth and economic reforms, is increasingly prompting foreign majors to rethink their investment and business strategies, believe company executives and business analysts. The India story may have also started pushing overseas brands to reconsider their earlier exit decisions so that they can return to the scene of action, they say.
About a decade ago, in July 2014, when Europe’s second-largest retail chain, Carrefour, announced it was shutting its cash-and-carry stores and exiting India after failing to establish a multi-brand business, there was no sign of it making a comeback ever.
