Walmart India weighing food retail possibilities
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Walmart India is “evaluating” new foreign direct investment (FDI) guidelines for the food retail space. This follows the government permitting 100 per cent FDI in the sector.
Walmart India president/CEO Krish Iyer describes the government’s decision as a good step. “It’s a very noble objective in terms of being able to double farmers’ income and reduce food waste.”
He says the company has been evaluating the guidelines and “at an appropriate time” will look at the sector. Walmart India currently works in the wholesale segment with 21 cash-and-carry stores across nine states. It plans to increase the number of stores to 50 by 2021.
Regarding its Best Price wholesale stores, Iyer says the major focus has been in states where the company already has a presence – Andhra Pradesh, Haryana, Himachal Pradesh, Madhya Pradesh, Maharashtra, Punjab, Telangana, Uttarakhand and Uttar Pradesh.
Walmart India is a wholly owned subsidiary of US retail giant Walmart Stores.
Questions & Answers
Q.What is Walmart India's current business model in the country?
What is Walmart India's current business model in the country?
Walmart India currently operates in the wholesale segment, running 21 cash-and-carry stores across nine states. These stores are known as Best Price wholesale stores, serving businesses rather than individual consumers directly.
Q.What are Walmart India's future plans for its existing wholesale business?
What are Walmart India's future plans for its existing wholesale business?
The company intends to significantly expand its current wholesale operations. It plans to increase the number of its cash-and-carry stores from 21 to 50 by the year 2021, focusing on states where it already has a presence.
Q.Why is Walmart India considering entering the food retail sector?
Why is Walmart India considering entering the food retail sector?
Walmart India is evaluating the food retail sector because the government has recently permitted 100 per cent foreign direct investment in this area. The company views this decision as a positive step.
Q.In which Indian states does Walmart India currently operate its Best Price stores?
In which Indian states does Walmart India currently operate its Best Price stores?
Walmart India currently has a presence with its Best Price wholesale stores in Andhra Pradesh, Haryana, Himachal Pradesh, Madhya Pradesh, Maharashtra, Punjab, Telangana, Uttarakhand, and Uttar Pradesh.
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