Europe’s biggest retail chain – Carrefour has agreed with Kishore Biyani of Pantaloon Retail to set up franchisee stores in India. The Paris – based retailer, which is seeing revenues in its home country falling due to a tightening of spending by consumers, is expected to sign on the dotted line by March, said an executive familiar with the development. When the deal with India’s retail king Biyani is formally announced, Carrefour would be the third among the big names entering the $390-billion Indian retail market after the Beast of Bentonville, Wal-Mart, and UK’s Tesco.The Carrefour franchisee is likely to be a part of the Future Value Retail, a 100% unit of Pantaloon Retail, which owns hypermarket chains Big Bazaar and Food Bazaar. The Big Bazaar, which has 109 stores, contributes 65% of the Future Group’s $2-billion total revenues. Food Bazaar, a supermarket chain has 152 stores. Carrefour has two entities in India – Carrefour WC & C India and Carrefour India Master Franchise Company.