Wal-Mart expects to open first India store within 18 months: Report

Tags: Wal-Mart, Retail
Wal-Mart Stores Inc is looking to open its first retail outlets in India within 12 to 18 months, Scott Price, president and CEO for Asia, said in an interview with the Wall Street Journal.

The move comes after the UPA government last week agreed to allow megastore retailers to enter the country through joint ventures.

Wal-Mart, the world's biggest retailer, has not yet decided where or how many stores it would like to have in India, Price told the newspaper.

Price added that the company expects to continue its current partnership with India's Bharti Enterprises in a chain of 17 cash-and-carry stores, but it is not in discussions with any other companies for a potential retail partnership.

EDITORIAL OF THE DAY

  • The government must only sell PSU stocks that are in demand

    The government’s move to change the methodology of selecting merchant bankers for divesting stake in various public sector undertakings would save d

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

BK Chaturvedi

Delhi and its democratic core

In the last one month, questions have been raised about ...

Kuruvilla Pandikattu SJ

Moral basis for collective living

Laudato si (Praise Be to You”) the second circular letter ...

Dharmendra Khandal

Have you spotted those wasps, yet?

Wasps are insects that ride on the monsoon winds. I ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture