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

  • Reservations, along with economic subsidies, must go to get India moving

    A young man, in his early twenties, starts an agitation demanding reservation for the community he represents.

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

Urs Schoettli

The China story isn’t over yet

China’s financial markets are currently in the eye of a ...

Anuja Sharma

Love yourself to love others

“There are two basic motivating forces: fear and love. When ...

Gautam Gupta

It's a 'blog eat blog' world out there

Let me tell you, fashion journalism has truly taken the ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture