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PE firms see new allure in old-world Indian retail

Investors like Blackstone and Xander look for malls, expecting growing middle class to fuel demand as more foreign brands open and online retailers ease aggressive discounting

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Private equity (PE) investors like Blackstone and Rothschild-backed Xander Group are looking for malls in India, betting that people will flock to stores as more foreign brands open and online retailers ease their aggressive discounting.

New Delhi

E-COMMERCE in India has been booming and online giants like Amazon are spending big bucks on the world's fastest-growing major economy. Yet some investors are pouring money into retail mainstays of a bygone era: shopping malls.

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