Bharti Walmart Private Limited, a joint venture between Bharti Enterprises and US retail giant Walmart Stores Inc, would enter south India in next three months with the launch of 'Best price modern wholesale cash-and-carry store' by September this year.
“Our focus would be only in Andhra Pradesh as far as out entry in south is concerned,” Raj Jain, Managing Director and Chief Executive Officer (CEO) of Bharti Walmart, told Business Standard here today. The company would launch its first store in Andhra Pradesh in September, he added.
The Bharti Walmart MD was here to launch Chhattisgarh’s first 'Best price modern wholesale store' in Raipur today. The store is spread over 53,000 square feet and stocks over 5,500 items. This would be company’s seventh outlet in the country.
Jain said after Andhra Pradesh, the company would foray into Tamil Nadu and Karnataka. It does not have any plan, right now, to enter into Kerala market, Jain said, adding that best and lowest price were the punch line of the company that makes it different from others entering the sector.
“We welcome other companies entering and re-entering into wholesale cash-and-carry business in India as it will result in good competition in the market,” Jain said. The cash-and-carry market in India is huge and can accommodate others to make it more competitive, he added.
Referring to the Foreign Direct Investment (FDI) in the retail sector, Jain said he was hopeful that the Union government would take necessary steps in this regard as it would ultimately benefit the people of this country.
Jain said Raipur was an important regional centre of India and Chhattisgarh state had rich potential that propelled them to enter the state and launch its first store.
