MONTE CARLO—Recently Pearle Europe finalized its joint venture agreement with Reliance Retail for the Indian optical retail market, according to an announcement last week by HAL Holding, which owns 97 percent of Pearle Europe.

When the planned joint venture was first announced March 3, it was subject to approval by India’s Foreign Investments Promotion Board. The required government approvals have now been received.

Reliance Retail currently operates more than 500 stores across India in various retailing categories.