Global retail giant Wal-Mart is firm on expanding its cash and carry stores to India in association with Bharti Enterprises despite opposition to organised retail in different parts of the country.
Speaking to media, Raj Jain, president, Wal-Mart India, said, “We are initially targeting to roll out 15 stores across India in seven years and we have no plan to rethink about it.” He further emphasized that the project is ‘on track’.
The company had planned that about 90 per cent of sourcing would be from the local markets and hoped the JV with Bharti would help in increasing Wal-Mart’s global sourcing from India.
Wal-Mart, in a 50:50 JV with Bharti Enterprises for cash and carry, will open its first store in Northern India during the first quarter of the next year.
