US discount retailer Target Corporation has again denied newspaper reports that it is planning to sell its operations in India, dismissing the notion as “irresponsible rumour.”

The retailer, which operates 1,744 Target stores and a credit card segment, said it remains committed to its Target India team and operation, which employs about 2,100 people in Bangalore.

“We do not know the source of this ridiculous speculation, but we can absolutely reaffirm that it is unequivocally not true,” Tim Baer, EVP and general counsel of Target Corporation, said in a statement today (18 January).

In fact, Target says it is bringing the work of its Bangalore and US-based teams “even closer together.”

“Our captive centre in Bangalore continues to be an important part of our long-term strategy and is highly integrated with our work and team in Minneapolis,” added Beth Jacob, EVP and chief information officer of Target Corporation.

The company hit back after persistent rumours have suggested it is close to selling the India-based captive technology centre, which provides technology systems for Target's retail operations.

Indian newspaper reports at the weekend said IT giant Wipro is set to buy the operation for $60m.