Mumbai, Aug 9 - Reliance Retail Ltd., a unit of India's Reliance Industries Ltd., is in talks to buy a stake in north-India based Modern Dairies, the Business Standard newspaper said on Thursday.
It did not disclose the size or value but quoted unidentified sources as saying a deal will help Reliance to source supplies.
The paper said Reliance aimed to make the northern state of Haryana, where Modern Dairies is based, its hub for dairy products and planned to buy 10 million litres of milk every day for a period of four years.
Officials at Reliance and Modern Dairies declined comment on the report, the paper said.