Walmart plans to open another 50 cash and carry or wholesale stores in India over the next four to five years, according to the US retailer’s Asia head Scott Price. The announcement comes just a day after the BJP manifesto opposed FDI in multi-brand retail.
In a telephone interview from Hong Kong, Price told Business Standard that Walmart will open another 50 stores in the next few years. He refused to disclose whether any store would open this year. The Bentonville, Arkansas headquartered, chain has 20 cash and carry stores in India. Its last store opening was in Bhopal at the end of 2012.
The company will also initiate its Indian e-commerce business this summer, Price said. To begin with, Walmart will get into B2B e-commerce catering to kirana stores through cash and carry outlets "The pilot for the first one will start this summer," he said.
(Source: Business Standard )