Walmart will take a month to firm up plans for stores in India
27 Sep 2012
American retail giant Walmart Stores plans to develop a roadmap for starting multi-brand retail outlets in India in about a month or two, according to Raj Jain, president of the India unit of the retailer.
Pointing out that the decision to allow FDI in multi-brand retail was taken just recently and the notification was issued barely a week ago, Jain told reporters in Hyderabad that the American retail major was in the process of studying the implications of the new rules.
''It is too early to make a comment on the investment plans and other issues,'' said Jain. ''It will take at least 12 to 18 months to come out with the retail format.''
According to him, big states including Andhra Pradesh and Maharashtra have welcomed the Indian government's move to allow FDI in multi-brand retailing.
''It is a calibrated approach to opening FDI,'' he added. ''I think the government has taken a cautious approach to FDI, which is fine. I think there is enough scope to go and demonstrate the benefits of a Walmart. Once we demonstrate that we have brought a lot of benefits in a state like Andhra Pradesh, some of the adjoining states will also want to open.''
Jain, who is also the managing director and CEO of Bharti Walmart, the joint venture between Bharti Enterprises and Walmart Stores Inc for wholesale, business-to-business and cash-and-carry operations in India, was in Hyderabad to open the first 'Best Price Modern Wholesale' cash-and-carry store in the Andhra capital.
