Bangladesh, Oct. 7 -- Japanese convenience store giant 7-Eleven has shut down its entire operations in India, the chain's parent company, Seven & I Holdings, confirmed on October 6.

In a statement, the company said its master franchisee, Reliance, which ran 7-Eleven outlets in Mumbai and Pune, closed all 31 stores on September 30.

The brand launched its first Indian outlet in Mumbai in October 2021 under a licensing agreement with Reliance Retail. The network eventually expanded to a peak of around 60 locations, a company spokesman said.

Seven & I Holdings declined to explain the reason behind the closures. However, Japanese daily newspapers reported that the chain struggled to cope with intense competition from local Indian retailers...