Walmart to open 50 new stores in India soon
Hyderabad
29-April-2017
Global retail giant Walmart will set up 50 new stores across India over the next three to four years, a top company official said on Saturday.
The new stores would include 10 in Telangana, for which the US retailer signed a Memorandum of Understanding (MoU) with the state government.
It will invest $10 to $12 million in each store, which would create direct and indirect employment for 2,000 people.
Walmart currently has 21 stores in India, including one in Hyderabad.
Walmart executives and Telangana government officials signed the MoU in the presence of state Industries Minister K.T. Rama Rao, President and CEO, Walmart Canada and Asia, Dirk Van den Berghe and President and CEO Walmart India, Krish Iyer.
Talking to reporters on the sidelines, Rajneesh Kumar, Senior Vice President and Head Corporate Affairs, Walmart India, said their focus in South India would be on Telangana and Andhra Pradesh.
The company has already signed a MoU with Andhra Pradesh.
In north India, Walmart is focusing on Uttar Pradesh, Haryana and Punjab. It already has MoUs with Haryana and Punjab.
Maharashtra is another state that Walmart will be focusing on for its expansion plans.
Krish Iyer said four of the 10 new stores planned in Telangana would come up in Hyderabad.
Walmart is looking at tier-II cities like Warangal, Karimnagar and Nizamabad to open the new stores. - IANS
More Headlines
ED Attaches Rs 97.79 Crore Worth of Properties Belonging to Raj Kundra Under PMLA
ISRO's Former Director Cites Probability Theory in Support of Possible Alien Existence
Gaming Startup LightFury Raises $8.5 Million to Develop AAA Titles in India and UK
Wow! Momo Raises Rs 70 Crore, Following Rs 350 Crore Investment to Extend Growth
After Six Years of Profitable Bootstrapping, Medulance Raises Rs 25 Crore to Expand Nationally
ED Attaches Rs 97.79 Crore Worth of Properties Belonging to Raj Kundra Under PMLA
ISRO's Former Director Cites Probability Theory in Support of Possible Alien Existence
Gaming Startup LightFury Raises $8.5 Million to Develop AAA Titles in India and UK
Wow! Momo Raises Rs 70 Crore, Following Rs 350 Crore Investment to Extend Growth
After Six Years of Profitable Bootstrapping, Medulance Raises Rs 25 Crore to Expand Nationally