Retail behemoth Walmart has adopted a cautious approach while spreading its wings on the Indian terrain. The largest brick-and-mortar retailer in the world announced that it intends to open the next outlet in 2017. Walmart also stated that the most likely destination of the upcoming cash-and-carry outlet will be Ludhiana, the industrial hub of Punjab.
The U.S. based retailer has hitherto opened 21 stores in India. The company expressed its intention to open 50 more stores in the country with the objective of increasing its toehold in one of the biggest consumer markets of the world.
Walmart India President & CEO Krish Iyer revealed that the company had already identified numerous locations in Punjab.
“We are working on several (sites) right now. We have signed quite a few properties. I do expect the next one will be in Ludhiana in Punjab,” Iyer said.
Walmart reportedly has proposals from other states too, however the company has zeroed in on Punjab.
The CEO also revealed that Walmart was in touch with the Punjab government and was in the process of completing formalities so that the Ludhiana store could be operational by the first half of 2017.
Walmart entered India by forging a joint venture with Bharti Enterprises. The two organizations ended their six-year partnership in 2013. Walmart operates only cash and carry only as the Indian regulations do not permit 100 percent FDI in multi brand retail.
