Following a two-year lull, American retail giant Walmart is readying its artillery for an Indian conquest by setting camp in Agra in the form of a new ‘cash and carry’ outlet.
The last store that Walmart had unveiled in India was at the end of 2012 in Bhopal. Shifting focus back to India, the retailer declared that as FDI in multi-brand retail trade was still not clear, it would concentrate on the country’s ‘cash and carry’ business.
Speaking to PTI, a Walmart spokesperson said: "Walmart is committed to India and we are focused on our growth plans… We have recently received all internal approvals for opening a new store in Agra, our second one in the city. Our team is currently working towards procuring all relevant licences and permits to have it up and running in due course in the coming year."
At present, nine Indian states have 20 ‘cash and carry’ stores running under the Best Price brand.
Early 2014, as part of plan to increase its visibility in India, Walmart had declared that in the next four to five years it would be launching 50 wholesale outlets; although it kept mum about investment details or further expansion plans.
Walmart will be widening its online platform for all its Indian outlets next year.
Currently, Walmart’s B2B e-commerce platforms run in four cities: Hyderabad, Lucknow, Vijayawada and Guntur.
Walmart stated: "We plan to extend our B2B eCommerce initiative in all our stores in a phased manner in the year 2015."
Deciding to go solo in India, the retail giant had cancelled a six-year alliance with Bharti Enterprises in October 2013.