From correspondents in Delhi, India, 08:32 PM IST

Bharti Enterprises, one of the leading business groups in the country which has interests in telecom, insurance and retail, Monday said it will launch its first medium-sized retail store in Punjab next month.

'We will start with Ludhiana as our first destination for the medium-sized format and then move on to other cities next year,' Bharti Enterprises managing director Rajan Bharti Mittal told reporters here on the sidelines of a conference.

The company currently has 12 convenience stores, christened as Bharti EasyDay, in the country.

Bharti has a technical agreement with the US retail giant Wal-Mart for the latter's front-end retail stores. The two groups have also entered into a 50:50 joint venture deal for the back-end cash and carry segment.

Asked about the economic slowdown, Mittal said: 'There is no slowdown as far as retail plans are concerned, one just needs to have a strong back-end and infrastructure in order.'

(Staff Writer, © IANS)