Walmart is ready to retail in India

  • World’s biggest retailer Walmart is ready to dobusiness in India by opening physical outlets & selling products online, if the government allows overseas supermarkets that directly sold Made-in-India products to consumers.
  • Walmart currently operates through cash and carry stores in India, which are wholesale outlets selling products to retailers, hotels and canteens and not to the consumer directly.
  • “We are okay with selling only ‘Make in India’ products because even in our cash-and-carry stores, imported items make up for only 5% of our total products,”: [Krish Iyer,Walmart India CEO]
  • With more than 95% local sourcing, Walmart India is already a partner in the government’s Make-in-India initiative.
  • Last year, government allowed 100% subsidiaries of global companies to sell food products through brick-and-mortar stores and the Web as long as the products were locally produced.
  • Amazon.com become the first global retail chain to take advantage of this policy & applied to the GOI by investing $515 million into a venture that would sell foods online and through physical stores.
  • Walmart, which currently operates 21 of its Best Price branded wholesale chain in India, plans to open 50 new stores in Uttar Pradesh & Uttarakhand over the next three to four years.
Source : http://bit.ly/2mSFeqw

 

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