Walmart fires up realty play in India

To open 50 stores by 2020, may spend $600 mn for that

Walmart India is planning a threefold increase in the pace of opening stores by 2020. It plans to open 50 new stores by 2022 to take the total store count to 70.

“We are opening five to seven stores next year. In year 2021, we plan to open 15 stores as part of the 50 planned stores.," President and Chief Executive Officer Krish Iyer said.

According to estimates, the firm spends around $12 million per store. Taking that figure, the firm is likely to spend $600 million in total for the new stores. The average size of its stores is