US-based multinational retailing corporation Walmart is looking to open nearly half of 50 new stores in Uttar Pradesh (UP) and Uttarakhand over the next three-to-four years.
In a bid to ramp up operations in the cash-and-carry segment, Walmart is also eyeing food retail if government norms favour them. For those who are unaware about cash-and carry stores – they are wholesale outlets, which are only allowed to sell to retailers, canteens, and hotels.
Earlier in June 2016, the Indian Government permitted 100% FDI in food retail, including retail through ecommerce. This move was made in a bid to strengthen the sector, provided these items are produced, processed or manufactured in the country.
The company is waiting for clarity on food retail guidelines as specified by the government, as they do not want to limit themselves to domestically produced and manufactured food products.
Currently operating 21 stores across the country by the name of BestPrice Modern Wholesale, Walmart further plans to open 10 stores each in Maharashtra, Andhra Pradesh (AP), and Telangana.
Commenting on the development, Walmart’s India spokesperson told TOI, “Our commitment to the country is very deep and we are growing our footprint in India further by opening 50 more cash-and-carry stores in the next few years across key focus states, including AP, Telangana, UP, Uttarakhand, Haryana, Maharashtra etc. Our development team is growing this store pipeline for the last couple of years and we’re confident of continuing our contribution to the creation of thousands of skilled jobs, helping kiranas, farmers, and SME suppliers succeed through our cash-and-carry business.”