Total looking for partners to enter India's gas station market

Total SA, the French energy giant, is looking for a partner to start retailing gasoline and diesel in the growing Indian market.

After the liberalization of diesel prices and improved market conditions, private fuel retailers from around the world are taking a good look at India. Total is the latest energy giant to announce its interest to enter the country´s fuel market.

"It's a big market with big players like Indian Oil and others having thousands of retail stations. It has been recently deregulated. Obviously we are thinking about it," Total CEO Patrick Pouyanne said at an industry event in New Delhi, according to Business Standard.

Pouyanne spoke of the importance of finding the right partners before fully committing to a full entry.

"It's not because we are large international company and we can do very well, we have the money, the financial capacities, we have the expertise in many of these businesses, but I think it is also to understand the local ways of making business and in India we have specifics,” he added.

India is poised to become the world’s most populated country by 2024 with a projection to hit 1.5 billion by 2030, according to a UN forecast.