Walmart India plans to open 70 extra cash-and-carry stores by 2020

12 May 2016 (Last Updated May 12th, 2016 18:30)

Walmart intends to open 70 additional cash-and-carry outlets in India by 2020, as part of its strategy to boost its presence in the country.

Walmart intends to open 70 additional cash-and-carry outlets in India by 2020, as part of its strategy to boost its presence in the country.

The retailer currently has 21 stores operating across nine states in India.

Walmart India president and CEO Krish Iyer was quoted by Indiainfoline.com as saying: "We have received number of proposals from across the country to help create the shopping experience to cover two-three more states, covering 12 states in all."

"India is one of the largest markets in the world and I see opportunity for the next 30 years."

The retailer plans to enter the growing market in India, which, according to Iyer, will continue to be 'the fastest growing major market in the next five years with macro-economic indicator including fiscal deficit being well under control and the economy robust'.

He further added: "India is one of the largest markets in the world and I see opportunity for the next 30 years."