The retail business scene is hotting up in India than ever before. Following up on Relaince Retail’s debut with a bang, it is now none other than Wal-Mart who is all set for an India entry.

The US supermarket giant will enter the Indian retail market along with Bharti Enterprises. A joint agreement to this effect has been inked. The two business houses have announced that they have signed a deal to jointly explore business opportunities in India.

According to Bharti Enterprises chairman Sunil Mittal, the two companies have decided to open several hundred stores across the country under the Wal-Mart brand name. Significantly, Wal-Mart's agreement comes after Britain's Tesco ended talks with Bharti. Though Tesco had hoped to reach a similar deal with Bharti, it has been reported that the negotiations ended without agreement last week.

The joint venture is expected to provide Wal-Mart with the opportunity to make a presence in the Indian retail mart. It has been forecast that the retail market scene in the country would double in value to $637bn by the year 2015.

By choosing Bharti as the partner, Wal-Mart would now make its presence felt in a market where it is reported that heavy investments are to be pumped in. The deal will help Bhart too in a big way as it will be on its way up the ladder to be one among the biggest corporate houses in this art of the world.

As per the deal, Wal-Mart will handle the supply side of the operation, while Bharti will run the stores, said reports.