Walmart bullish on India, to open 50 stores in 5 years

Walmart India is pursuing its India plans aggressively after parting ways with its joint venture partner Bharti. The company aims to open 50 stores in the country over the next 5 years. The US retail major operates 20 stores as of now and the 21st store is all set to be launched in September, this year. Plan is to open brick-and-mortar stores while establishing online presence. Apart from Andhra and Telangana, where it would open cash-n-carry stores, the company is eyeing to expand footprint in Delhi, Uttar Pradesh, Punjab, Haryana and Rajasthan.

However, the company feels that while the Indian market is an opportunity for foreign investors, it is a difficult market to do business in. It has no plans of scouting for a domestic partner to open stores under multi-brand segment, where foreign investment is not allowed beyond 51 percent.