Abhishek Chinnappa / Reuters
They have just bought some land for it.
INDRANIL MUKHERJEE via Getty Images
It also wants to add 14 fulfillment centres.
In stark contrast to the US or the UK where 50-70% of retail payments are electronic, in India that number is approximately 3%. Banks have made a conscious effort to encourage the adoption of electronic payments, but old habits die hard, and cash continues to remain king. So what can be done to change the pace of adoption? Below are three high-level areas, including some carrots and sticks, which I believe will move the needle in India.
MUMBAI — India's Future Retail Ltd said on Monday it had agreed to merge its retail operations with local rival Bharti Retail Ltd to create one of India's biggest retail chain with more than 570 store...