Walmart registers new Indian arm with eye on multi-brand retail

Walmart, the world's biggest retail chain, has registered a new company in India as it prepares to enter the country's multi-brand retail market, lately opened to foreign direct investment although in a very limited manner.

The American retail chain and India Bharti Enterprises broke up their six-year partnership in 'cash-and-carry' or wholesale shops in October last year; and Walmart is reportedly looking for another Indian partner.

Meanwhile, it has registered a new company, called Wal-Mart India Private Ltd, according to data available with the ministry of corporate affairs. The new entity was registered on 15 January, reports PTI.

The US retailer and Bharti Enterprises had last year decided to independently own and operate separate business formats in the country.

In December 2013, Walmart received the green signal from the Competition Commission of India to purchase the Bharti Group's almost 50 per cent holding in their joint venture for wholesale stores under the Bharti-Wal-Mart label.

Walmart has been lobbying with American lawmakers since 2008 for facilitating its entry into the Indian market, according to disclosure reports filed by the company in the US.

A probe, ordered by the Indian government in December 2012, into the lobbying activities undertaken by Walmart remained inconclusive.

The one-man inquiry panel could not ''conclude in the absence of any material evidence available on record up till now, that Walmart indulged in any lobbying or bribery to Indian officials''.