Walmart to open new store in India after 2-year gap

NEW DELHI, Dec 22:
After a gap of two years, US retail major Walmart will open a new cash and carry store in Agra as it returns focus on India.
The company, which opened its last store in Bhopal towards the end of 2012, has said it will focus on cash and carry business in India in the absence of clarity on FDI in multi-brand retail trade.
“Walmart is committed to India and we are focused on our growth plans… We have recently received all internal approvals for opening a new store in Agra, our second one in the city,” Walmart spokesperson said.
“Our team is currently working towards procuring all relevant licences and permits to have it up and running in due course in the coming year,” he added.
Walmart runs 20 cash and carry stores under brand Best Price across 9 states.
Earlier this year, Walmart announced plans to open 50 wholesale stores in the next 4-5 years to expand its footprint across the country.
Walmart, however, did not reveal investment details or its plans for further expansion.
The company will also extend its online platform in all its stores in 2015.
Walmart operates B2B e-commerce platform in four cities in India — Lucknow, Hyderabad, Guntur and Vijayawada.
“We plan to extend our B2B eCommerce initiative in all our stores in a phased manner in the year 2015,” Walmart said.
The company had called off 6-year partnership with Bharti Enterprises in October last year and decided to operate stores independently in India. (PTI)


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