Wal-Mart Stores Inc. and Bharti are still discussing business plans for their cash-and-carry joint venture and a deal is just a matter of time, a top official at Bharti said on Friday.
"It's not just signing the agreement, there are a whole lot of other things -- discussions, business plans, other things simultaneously going on. So I don't have an exact date," Bharti group Managing Director Akhil Gupta said.
He rejected media reports about possible differences for the delay in striking a deal, which has been on the cards for many months.
"All I can say is it's on track and there is absolutely no hitch. It is just a matter of time," Gupta said.
India's highly fragmented $300 billion retail industry, which is dominated by small family-run stores, is forecast to more than double in size by 2015.
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