11/27/2006

Come August 2007, shop in Walmart India

Yes, the Rs. 14 lakh crore giant is about to enter India in a tie up with Bharti group and plans to open "hundreds of stores" all around. The financial details haven't been released yet as India still doesn't allow FDI in retail sector, but only in the wholesale sector.

If you have some land in India which is potentially close to where Walmart plans to put up its store, hold on to it and wait for the prices to go up :)

Check out the following links.

Wal-Mart takes retail war to back-end
As foreign direct investment (FDI) is banned in multi-product retailing, the 50:50 Bharti-Wal-Mart agreement will focus on supply chain, logistics and wholesale business, leaving Mittal to manage the customer-facing storefront.
WalMart enters India in tie-up with Bharti
The joint venture will start opening stores in Asia’s fourth largest economy from 2007, and Bharti Enterprise chairman Sunil Mittal said he expected it will have several hundred stores across the country in the next four to five years
Deal worth billion dollars, says Mittal

Bharti Enterprises has signed an agreement with world's largest retailer Wal-Mart for a joint foray into India's retail space. The companies have inked an MOU and operations expected to kick off mid August.