Japanese convenience store chain 7-Eleven's second attempt to crack India's retail market through a franchise model may have failed, but the company has no plans to write off its ambitions to build a presence in one of the world's most populous countries.
At the end of September, Reliance Retail, the master franchise operator of 7-Eleven stores, shut down all 31 outlets across India, a spokesperson for the Japanese company told CNBC in an email. Reliance Retail is owned by Indian billionaire Mukesh Ambani's Reliance Industries.
The 7-Eleven representative said that the company still aspires to serve customers in India and "looks forward to exploring several options to advance our presence in the market over the long term."
The spokesperson declined to provide additional comments on Reliance's business decisions and the status of the agreement between the Japanese and Indian companies.
Reliance Retail did not immediately respond to CNBC's emailed request for comment.