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Thursday, January 13, 2011

Starbucks signs pact to enter India, (NASDAQ: SBUX), (TACO)

Starbucks Corp (SBUX.O) unveiled a deal that sets the stage for the world's largest coffee company to bring its iconic cafes to India, where Western-style coffee shops are increasingly popular. The Seattle-based chain signed a pact with India's Tata Coffee Ltd (TACO.BO), part of the Tata group conglomerate, to buy coffee from India and explore opening retail stores in the country, the companies said in a statement on Thursday. Starbucks will likely open its first store in Asia's third-largest economy in July or August this year, R.K. Krishnakumar, chairman of Tata Coffee, told Reuters.

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