Tesco Plc, Britain's largest retailer, said on Wednesday it was in talks with many Indian firms for a joint venture, but that it was a long way from entering Asia 's third-biggest economy, reports Reuters.

"We've spoken to a lot of people, (but) we are at a stage where we haven't even done a feasibility stage. We're a hell of a long way off," Finance Director Andrew Higginson said at the Reuters Consumer and Retail Summit.

"We won't be there in a few months. It will be more than a year. I wouldn't want to put a date on it," he said. India 's Bharti Enterprises - which partly owns Bharti Airtel - has said it was in talks with Tesco and other major retailers including Wal-Mart Stores and Carrefour for its retail venture. It is expected to finalise a partner in a few months.

Higginson said fast-expanding economies like China and India posed challenges such as high property prices. " India is tricky because things have gotten ahead of themselves there," he said.

Tesco has a support centre and a sourcing office in India, and has invested about US$40 million in its operations there. It plans to step up headcount at its back office in Bangalore to 2,000 from nearly 1,500 now, Higginson said.

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