PE firms see new allure in old-world Indian retail

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.

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.