Wal-Mart Planning On Expanding Outlets In India
NEW YORK (AP) — Wal-Mart Stores Inc. says it will open 50 more wholesale stores in India over the next four to five years, adding to the current total of 20 in the country.
These stores, known as cash-and-carry outlets, cater to retailers, rather than to individuals.
Wal-Mart also says it plans to launch an online operation for cash-and-carry customers in India.
The world’s largest retailer announced last October that it was splitting from its Indian business partner Bharti Enterprises and said it couldn’t move forward with plans for its own retail stores in India because strict government regulations on sourcing from local small businesses make it impossible.
Wal-Mart opened its first wholesale outlet store in India through the joint venture in 2009.
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