IndiaRetailBiz

Walmart, the world’s largest retailer, which was to scheduled to unveil its first store in India on Tuesday, in joint venture with the country’s largest wireless telecom operator Bharti Enterprises, is advancing its time line for expanding its retail network in India.

Originally, the joint venture had announced the plans to set up 15 stores of 50,000 to 100,000 sq ft size and employing more than 5,000 persons over a period of seven years. The company is now confident of achieving the goal in the next three years.

“In 2007, we talked about opening up of 10-15 stores in the next seven years. I think we can open 10-15 (stores) over the next three years,” said Raj Jain, President, Wal-Mart India, in an interview to a TV channel.

“…whatever we plan, we can probably accelerate that based on the learning we had over the last eighteen months,” added Jain.

Apart from softening of realty prices in the past few months, which is vital to the the financial health any retailing company, Jain feels that Walmart is now more confident about doing business in India.

The scheduled opening of the 50:50 joint venture’s maiden ’Cash & Carry’ store at Amritsar, Punjab, had to be deferred on account of outbreak of violence in the city and Punjab state following a firearm attack on a Sikh Guru in a Gurudwara in the Austrian capital city of Vienna last Sunday. The C&C chain promoted under the brand name of ’Best Price Modern Wholesale’ will now be opened after improvement of the law and order situation in the city and surrounding areas.

Walmart, the US-based, $405 billion multi-brand big box retailer, which began its operations in 1962 from Bentonville, Arkansas, United States, currently operates in 15 countries across the world. Worldwide, the retailer emloyes over 2.1 million persons and operates more than 7,800 retail units under 55 different banners. The discount retailer serves around 30 million customers and members every day.