According to The Economic Times, Toys “R” Us is close to signing a joint-venture agreement with Mumbai-based Reliance Retail to open a store in India. An anonymous official told the newspaper: “Reliance is still working on the nitty-gritty of the joint venture and is expected to close it in the next few months.” A spokesperson for Reliance Retail refused to comment. In April, Reliance Retail opened a Hamleys outlet in Mumbai.